UBI North America Study
The Usage-Based Insurance North America Study is PTOLEMUS’ reference market report on the state and future of connected insurance in the USA and Canada.
Building on 15 years of UBI consulting experience and 9 months of research and analysis, this 680-page study delivers unparalleled insight into telematics insurance trends, technologies, and business models across the region.
The most comprehensive report ever published on telematics insurance in North America
This reference study —based on 65 executive interviews — supports strategic decision-making for insurance carriers, brokers, MGAs and reinsurers, OEMs, solution providers, investors, and regulators looking to understand and shape the future of connected auto insurance.
With 32 million vehicles insured, North America has become the leading UBI market in the world and 16 of the top 17 personal line insurers have an active program.
However, as the recent auto insurance challenges faced by leaders such as State Farm and GEICO prove, not everybody has got it completely right.
In this report, we assess how UBI can transition from a simple risk measurement offer to a company-wide, 360° insurance transformation. Based on the analysis of over 130 programs but also the review of programs in 60 other countries, we deliver advice on the best practices to achieve this secular transformation of the auto insurance business.
What this unique study contains:
- Over 130 active programs reviewed and estimated (101 in personal line and 31 in commercial line)
- The 18 leading insurance carriers / car OEMs analysed in their telematics insurance strategy
- Dozens of case studies of successful implementations of UBI
- In-depth analysis (236 pages) of the state of development of UBI in the USA and Canada incl. market size and market shares of insurance companies and Telematics Service Providers (TSPs)
- 2020-2035 market estimates and forecasts
- Updated landing plan for connected cars in the UBI market after the GM scandal
- Quantified impact of ADAS and level 4, fully autonomous vehicles on the auto insurance and UBI markets
- 21 leading UBI solution and data providers – from Azuga to Targa Telematics – profiled, compared and evaluated
- UBI Supply and UBI Demand Readiness Index for each country
- Our recommendations to insurers, solution providers, OEMs, regulators and TSPs
📊 Report KPIs at a glance
🌍 2020-2035-year forecast for the USA and Canada
As telematics insurance policies reach 45% of insured vehicles in 2030, we expect UBI premiums to exceed $200 billion.
The report includes a bottom-up sizing and forecast for UBI adoption in the personal and commercial auto insurance markets in each of the 2 countries. The 2020-2035 Excel file includes:
- Number of UBI policies by business line (personal/commercial), vehicle category and technology
- Penetration of UBI in total auto insurance policies
- UBI premiums by business line (personal/commercial), vehicle category and technology
- TSP revenues by business line (personal/commercial), vehicle category and technology
🎯 Ready to define/refine your UBI strategy?
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