Not only the biggest study on UBI, the biggest overall study on Telematics
Over 1200 pages long, the report delivers a clear strategic advantage, such is the scope and breadth of content.
PTOLEMUS has created the UBI Global Study as a reference guide for all insurance players, irrespective of how accomplished they might be in telematics insurance.
The 2013 study was already the most comprehensive piece of research on the subject and was acquired by more than 70 companies worldwide. With this new edition, we went far beyond updating. We produced the most current strategic and competitive tool for the insurance and the telematics sector.
Among other things, it identifies:
- The most successful UBI models, answering the perennial question: “why give a discount to the most lucrative policyholders?”
- The fundamental strategic decisions on partnerships and technologies
- The market drivers and challenges for insurers to start a UBI programme
- Which markets are most receptive to UBI, and how to increase customer acceptance where it has been implemented
- The technology trends and ways to assess, compare and choose technology solutions
From a supplier’s perspective, the study establishes:
- The insurers’ expectations from their technical partners to run those programmes
- The opportunities for car manufacturers and wireless operators
- The future impact of the smartphone as a UBI device
- The future evolution of the device split globally
- The global and regional market previsions for UBI up to 2030
The UBI Global Study in numbers
- 1200 pages of analysis & recommendations based on
- 286 interviews in 28 countries producing
- 42 case studies with actionable lessons for insurers, illustrated by
- 422 charts, tables and graphs and
- 64 applicable patents listed
- 69 individual companies profiled and assessed
- 6 telematics insurance market model results for France, Germany, Italy, UK, Russia and the US
- 28 country profiles and attractiveness ratings
The most critical questions answered
We set out to update the 2013 analysis and look at the most common questions asked during our interviews.
Then we set out to answer them precisely, honestly and from all angles.
- What are the ways Google could disrupt the auto insurance market?
- How will UBI evolve over the next 5 years?
- What will be the impact of smartphone apps on UBI?
- How will the evolution of analytics affect underwriters and actuaries?
- How and when will ADAS affect the insurance sector?
- How is telematics data being used in claims today and will this change?
- What are the implications of mandatory eCall in Europe and when will it have an impact outside Europe?
- What are the current smartphone-based UBI initiatives and business models?
- Which are the main channels to market for OBD data related services?
- How will the device mix evolve?
- Will the relationship between insurers and OEMs change?
- How should insurers expect their relationship with OEMs to evolve?
- Is UBI making cars more vulnerable/susceptible to hacking?
A step-by-step guide to Big Data Analytics
The side report directs you through the technicalities of Advanced Analytics:
- How to deal with missing data and how to anonymise sensitive information
- The parameters that are most widely used to score driving behaviour and the ones that really should be.
- How fast, how big and how diverse must telematics data really be
- How to clean and filter the data, how to superimpose map details onto the data
- The 4 levels of advanced analytics and the specific questions each level aims to answer
- A unique explication of the impact of UBI on risk analytics processes
- The impact of analytics on country-specific product differentiation
- Examples of real life methodologies used by market leaders in determining driving behaviour based on telematics data
- Information on how to stay competitive by selecting a UBI analytics strategy
- The key analytics providers today, able to give you a competitive advantage over carriers who are slow to adopt this transformational technology
A long-term market forecast for the global insurance industry
There are changes afoot which other forecasts cannot show. The UBI Global Study Forecast has been extended to 2030 to encompass the effect of emerging autonomous safety functions and, ultimately, semi and fully autonomous cars.
The Excel forecast is over 2400 lines deep and is based on our 6000 line bottom up model using more than 2500 lines of input.
The forecast was last updated in January 2016 with the latest available market figures derived from interviews and secondary research.
You will find the model is split:
By geographies: 16 areas, including USA, Canada, France, Germany, Italy, UK, Japan, China, India, Brazil, South Africa, Russia and LATAM.
By technologies: including line-fitted OBUs, professionally installed and self installed black boxes, light OBD dongles, connected OBD dongles, windscreen devices, Cigarette Lighter Adaptators and smartphones.
And by business model, differentiating the evolution of the market by channels and segments: aftermarket / OEM, personal / commercial, channels…
The figures and charts are organised as follows:
Number of vehicles in use with autonomous functions and associated penetration.
Motor insurance market – personal line
Motor insurance and UBI market size in terms of volume and value for private insured vehicles.
Breakdown of volumes by technology and channel.
Breakdown of revenues along the value chain.
Motor insurance market – commercial line
Motor insurance and UBI market size in terms of volume and value for fleet vehicles (fleet passenger cars, light commercial vehicles, heavy commercial vehicles).
Breakdown of volumes by technology and channel.
Breakdown of revenues along the value chain.
Motor insurance market – total market (personal and commercial lines)
Motor insurance and UBI total market size in terms of volume and value for all insured vehicles.
Breakdown of revenues along the value chain (TSPs, TTPs, MNOs).
Click here or on the charts to download the UBI Global Study market forecast (categories)
Inspect the full contents list in the following slides
The fundamental issues and disrupting factors that will affect the insurance industry explored and analysed
1- BIG DatAnalytics: the future scores and actuarial models
The study describes how to leverage telematics with analytics.
Which data to collect and what factors to rate.
It discusses why contextual information is required and how to use it.
It also analyses in detail the supply offered today through 10 analytics company profiles.
2- The impact of autonomous safety functions on the motor insurance industry
The study details the present and forthcoming autonomous functions affecting the insurance business. It analyses the speed of the technical evolution and the predicted timing of the autonomous functions’ emergence.
The study then analyses and forecasts how and when autonomous safety functions will affect the insurance industry and how this will affect the UBI market.
3- The benefits and (lost) opportunities of telematics in accident and claims management
The study analyses the internal and external forces affecting the claims management sector today, including car sharing and autonomous vehicles.
It looks through case studies of successful implementations and highlights best in class usage of data in claims today.
The potential benefits of big data to the claims management industry in the context of UBI are then assessed.
Recommendations are then made to entice the claims management departments to consider telematics.
4- The advent of mobile-based UBI becoming the default proposition
The study offers a detailed assessment of the current mobile UBI initiatives worldwide as well as their solution providers.
Find out the current range of business models on the market and how successful they have been.
Definitive answers concerning mobile solutions capabilities and the remaining technical barriers. An answer to whether smartphone data collection is robust enough for UBI.
See how future technological advances will impact the smartphone UBI proposition.
Finally, based on our competitive analysis of the mobile UBI market, learn the key steps to launch a smartphone UBI programme.
5- The present and future usage of the OBD dongle and its data
The study gives an incomparable overview of the technology and capabilities of the OBD dongle, from the data available from the port through to application. This is done through technical analysis of the OBD and through cases studies organised by vertical markets.
You will find out what data can be accessed by insurers, which telematics services can be delivered / improved thanks to OBD data and what the major technical and safety risks are related to the use of vehicle OBD technology.
Finally, the study provides an analysis of the main channels to market for OBD data related services, as well as assessment of the key independent connected car service providers.
6- The rapidly changing role of car manufacturers in the UBI market
The report analyses through case studies and interviews the current position of the OEMs on telematics services and UBI. It explains when insurers will be able to start using OEM data and what the likely models will be for insurance – OEM partnerships.
From an OEM perspective, the report also gives recommendations on the best strategies to distribute the data and analyses the key constraints for OEMs to open vehicle data access.
Finally, the study explains how Google and Apple will affect the OEM UBI data market, the home insurance market and health insurance market.
More details on the study content in the slides below
What the leaders in telematics insurance say:
“Octo Telematics is probably the best informed UBI solution provider globally. However, we decided to purchase PTOLEMUS’ Insurance Telematics Study, which analyses this market in an unprecedented breadth and depth. We believe it is a must-read guide for any insurer or supplier that is serious about its insurance telematics plans.”
Giampiero Luccitti – Director of Corporate Development, Octo Telematics
“Danlaw serves many insurers in North America; yet, to continue our growth, we need to penetrate other markets. As a 300 person engineering company with scant marketing resources, we rely heavily on external research. The Global Insurance Telematics Study provides the most comprehensive analysis of the trends, players, devices, and potential.
We will align and prioritise our staffing, research, and partnership agreements accordingly. Worth every Euro.”
Mike Carroll, VP Sales, Telematics, Danlaw, Inc.