Usage-based Insurance Market to value USD 350 Billion by 2032: Global Market Insights Inc.
Major usage-based insurance market participants include ARGO Data Resource Corporation, Allstate Insurance Company, Aviva plc, AXA Equitable Life Insurance Company, among others.
Selbyville, Delaware, Dec. 06, 2022 (GLOBE NEWSWIRE) —
The usage-based insurance market is expected to record a valuation of USD 350 billion by 2032, according to a held more than 40% of the revenue share in 2022. The improving technological landscape and the skyrocketing sales of connected and autonomous vehicles are slated to drive business expansion across the region. Besides, a number of telematics insurance companies integrating advanced solutions to deliver better packages & schemes will further proliferate the regional industry progression.
Leading players operating in the UBI market are ARGO Data Resource Corporation, Allstate Insurance Company, Aviva plc, AXA Equitable Life Insurance Company, and others. These leaders are focusing on offering customized insurance coverage to their customers to strengthen their business standing.
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Partial Table of Contents (ToC) of the report:
Chapter 3 Usage-based Insurance Market Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Impact analysis of Russia-Ukraine war
3.4 Usage-based insurance industry ecosystem analysis
3.5 Advantages/features of UBI
3.6 Working/Architecture of UBI
3.7 UBI policy penetration (2022-2032)
3.8 UBI vs traditional automotive insurance
3.9 Technology & innovation landscape
3.10 Patent analysis
3.11 Investment portfolio
3.12 Industry news
3.13 OBD Standards
3.14 Regulatory landscape
3.15 Industry impact forces
3.15.1 Growth drivers
3.15.1.1 Growth of the automobile industry
3.15.1.2 Shifting focus towards remote diagnostic technology
3.15.1.3 Growth in the number of the connected cars bringing new UBI opportunities
3.15.1.4 Rising penetration of smartphones integrated with vehicle connectivity systems
3.15.1.5 Rapid use of UBI by insurance companies to improve profitability
3.15.1.6 Growing trend of Try-Before-You-Buy (TBYB) insurance model
3.15.2 Industry pitfalls & challenges
3.15.2.1 Data security and privacy concerns
3.15.2.2 Data quality issues with smartphone based UBI system
3.15.2.3 Increasing compatibility issues
3.16 Growth potential analysis
3.17 Porter’s analysis
3.18 PESTEL analysis
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