Post-pandemic User Interest And Regional-level Competitive Intensity Will Support Market Growth
In the post-pandemic era, the soaring trend of connected cars, users' adoption of in-vehicle connected services, and rising awareness of vehicle usage are encouraging the growth of automotive usage-based insurance (UBI) in Europe-5 countries (the United Kingdom, Germany, Italy, France, and Spain). Insurance companies' telematics adoption is revolutionizing the automotive insurance industry with relevant and innovative insurance policies for customers.
Unlike the west, the European insurance industry is driven by regional companies and significant partnerships between insurers and telematics providers, which will accelerate automotive UBI growth during the forecast period (2022-2028). A key trend observed in the European industry is the rising number of InsurTechs in the insurance domain; these companies are transforming business models and looking at new ways of data gathering and sharing with improved means of connectivity and data communication across OEMs, TSPs, and insurance providers.
This research service analyzes the Europe-5 automotive UBI market. It provides an overview of select automotive insurance companies that provide UBI policies across these countries, including DirectLine Insurance, Allianz SE, Unipolsai Assicurazioni S.p.A, Generali, and Ergo. While Italy continues to dominate the connected insurance market in Europe, regional companies in the United Kingdom and Germany are leaving no stone unturned to bring about realistic UBI plans to suit the social shift in the post-pandemic era.
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Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- AXA
- Allianz SE
- ByMiles
- Direct Line
- Ergo Group
- Generali Spain
- HUK-Coburg
- Linear Assicurazioni
- PSA Finance
- Unipoltech Solution Technology
