Mobile Insurance Global Study
Our prediction: smartphones will revolutionise the insurance business
In 2012, PTOLEMUS was forecasting that smartphones would be used for Usage-based Insurance (UBI), also called insurance telematics.
Today we predict that smartphones will completely revolutionise the business of insurance and go far beyond UBI.
Of course this is about digital insurance. But for policyholders, mobile insurance is the actual translation of digital insurance!
- Apps are not only used for UBI but dozens of other use cases such as policy management, CRM, claims management, underwriting, etc.
- Insurance is moving from a standard contract-based purchase to an on-demand, transaction-based service
- Data science is becoming an essential competitive tool for usage-based, context-aware personalised coverage
Apps will radically transform insurance: they will impact customer relationship, competition, internal processes and the skills required to handle new technologies.
Why then has mobile insurance only reached only 50 million drivers, a fraction of the mobile banking market? And why are most insurers still struggling to do real business with apps and obtain good user ratings?
Well, insurers have been focused on ‘digital insurance’ and ‘insurtech’! But what customers are seeing is often a mediocre smartphone app that cannot do anything for them…
The first in-depth analysis of the impact of smartphones on auto insurance
The Mobile Insurance Global Study analyses the mobile insurance market, defines best practices and quantifies each use cases.
Already licensed to half of the world’s top 20 insurance companies, this report brings 600+ pages of analysis including:
- Best practices derived from the analysis of successful programmes
- Key insurance features and services evolution
- Quantified assessment of the insurance app market based on the review of 245 apps
- Investigation, analysis and forecast of the key trends in mobile insurance strategy
- A global scope with a focused on North America and Europe and with case studies on 2 spearheading markets: Italy and China.
- 170 graphs, illustrations and maps
Coming from the most experienced strategy consulting & research firm in UBI
Based on 6 years of quarterly assessment of the UBI market, this research leverages:
- The review of the 245 top insurance apps worldwide
- Over 100 interviews with insurers, service and technology providers
- Desk and primary research by a team of 8 consultants and analysts across Europe, North America and China, over 6 months
- Insights from over 60 consulting projects on future insurance strategy and UBI
- Our quarterly tracking of the UBI market and its nearly 130 mobile telematics programmes
Fill in the form below to download the free abstract