Insurance Telematics in Europe and North America – Market Forecasts to 2024 – ResearchAndMarkets.com
Insurance Telematics in
Highlights from this report:
- Insights from 30 new executive interviews with market-leading companies.
- Comprehensive overview of the insurance telematics value chain and key applications.
- In-depth analysis of market trends and key developments.
- Case studies of more than 60 insurance telematics initiatives.
- Summary of the involvement of vehicle OEMs and mobile operators.
- New data on vehicle populations in
Europe andNorth America . - Market forecasts by country lasting until 2024.
According to this research report, the number of insurance telematics policies in force on the European market reached 12.8 million in Q4-2019. Growing at a compound annual growth rate (CAGR) of 28.2 percent, this number is expected to reach 44.5 million by 2024. In
In
The analyst expects in the next years a rapid increase in the uptake of smartphone-based solutions in all markets as well as an increase in the use of OEM telematics data in insurance telematics programs. The insurance telematics value chain spans multiple industries including a large ecosystem of companies extending far beyond the insurance industry players. Automotive OEMs such as General Motors, Honda, BMW,
Players such as
Notable aftermarket telematics service providers with a focus on insurance telematics include Octo Telematics that has a dominant market share and more than 6 million devices in insurance telematics programs and other end-to-end solution providers such as
Cambridge Mobile Telematics is becoming a market leader in this segment of insurance telematics and powers more than 6 million insurance telematics policies, mainly in the US. Other prominent vendors of smartphone-based insurance telematics solutions include TrueMotion and Arity (subsidiary of Allstate). The uptake of smartphone-based insurance telematics policies is further fuelled by the COVID-19 pandemic situation. Insurers that have launched smartphone-based telematics products are at an advantage and can deploy UBI policies without installing telematics devices avoiding unnecessary human contact.
In summary, the report answers the following questions:
- What types of insurance telematics products are offered on the market?
- Which are the leading providers of insurance telematics technology?
- What business models are available for insurers entering the insurance telematics space?
- Which are the dominant technology form factors on each market?
- Which are the most successful insurance telematics programs today?
- How are mobile operators approaching the insurance telematics market?
- How are the vehicle OEMs involved in the ecosystem?
- Which are the major drivers and barriers for insurance telematics adoption?
- Which are the key future trends in this industry?
Key Topics Covered
Executive Summary
1 The Automotive Market
1.1 The automotive market in
1.1.1 Vehicles in use and car density
1.1.2 New car registrations and leading manufacturers
1.2 The automotive market in
1.2.1 Vehicles in use and car parc density
1.2.2 New car registrations and leading manufacturers
1.3 Automotive insurance
1.3.1 Basic insurance terminology and categorisations
1.3.2 The fundamentals of automotive insurance
1.3.3 Traditional automotive insurance risk rating and pricing criteria
1.3.4 Developments of the actuarial toolbox for motor insurers
1.4 The European automotive insurance market
1.5 The North American automotive insurance market
2 Insurance Telematics Solutions
2.1 Introduction to insurance telematics
2.1.1 The rationale for telematics-based insurance policy pricing
2.1.2 Brief history of insurance telematics offerings
2.2 Usage-based insurance and related concepts and applications
2.2.1 Manual reporting
2.2.2 Usage-based insurance telematics - PAYD, PHYD, MHYD, TBYB
2.2.3 Continuous and time-limited telematics data recording
2.2.4 Usage-based pricing vs. claims-related insurance telematics
2.2.5 Personal lines and commercial lines insurance telematics
2.2.6 Value-added services related to insurance telematics
2.3 Insurance telematics infrastructure
2.3.1 Vehicle segment
2.3.2 Insurer segment
2.3.3 End-user segment
2.3.4 Network segment
2.3.5 GNSS segment
2.4 Business models
2.4.1 In-house development
2.4.2 Leveraging telematics partners
2.4.3 Underwriting without direct client interaction
3 The European Insurance Telematics Market
3.1 Regional market characteristics
3.1.1
3.1.2
3.1.3 Iberia
3.1.4
3.1.5
3.1.6 Benelux
3.1.7
3.1.8 The Nordics
3.1.9
3.2 Insurance telematics case studies
3.2.1 More than 40 percent of the vehicles insured by UnipolSai feature a blackbox
3.2.2 Generali offers a wide portfolio of insurance telematics products
3.2.3 Smartphone-only solutions - a growth engine for Allianz's telematics offerings
3.2.4 AXA offers its insurance telematics portfolio in multiple European countries
3.2.5 Admiral Group has multiple insurance telematics programs in
3.2.6 Insure The Box has sold more than 1 million blackbox-based policies
3.2.7
3.2.8 Aviva adds a free dashcam feature to its
3.2.9 Ingenie targets drivers in the 17-44 year old age bracket
4 The North American Insurance Telematics Market
4.1 Regional market characteristics
4.1.1
4.1.2
4.2 Insurance telematics case studies
4.2.1 Progressive is the UBI telematics pioneer in the US
4.2.2
4.2.3 Allstate offers Drivewise and Milewise in the US
4.2.4 Esurance offers DriveSense in 37 US states
4.2.5 Allstate's subsidiary Arity expands its offering to external customers
4.2.6 Liberty Mutual has a broad portfolio of telematics products
4.2.7 Desjardins offers a smartphone app for insurance telematics in
4.2.8 Nationwide offers UBI based on OBD, smartphone and OEM telematics data
4.2.9 Farmers offers insurance telematics for commercial lines powered by Modus
5 Market Forecasts and Trends
5.1 Market analysis
5.1.1 Insurance telematics policies and penetration in
5.1.2 Form factor developments in
5.2 Value chain analysis
5.2.1 Insurance industry players
5.2.2 Telematics industry players
5.2.3 Automotive industry players
5.2.4 Telecom industry players
5.2.5 IT industry players
5.2.6 Mergers and acquisitions in the insurance telematics space
5.3 Market drivers and barriers
5.3.1 Macroeconomic environment
5.3.2 Regulatory environment
5.3.3 Competitive environment
5.3.4 Technology environment
5.4 Future industry trends
5.4.1 Continued broadening of the insurance telematics concept is expected
5.4.2 Insurers will embrace both UBI and claims-related insurance telematics
5.4.3 Form factor shift to favour mobile devices
5.4.4 Connected cars pave the way for mass-marketisation of insurance telematics
5.4.5 New data exchanges expected to make OEM data available to small insurers
5.4.6 Fleet insurance telematics to disrupt the fleet tracking market
5.4.7 Privacy concerns are softening across customer segments
5.4.8 Big Data: Ownership and portability of telematics data to be scrutinised
5.4.9 Insurance telematics aims to reduce distracted driving
6 Company Profiles and Strategies
6.1 Agero
6.2 Amodo
6.3 Autoliv
6.4
6.5 Baseline Telematics
6.6 Bosch Connected Devices and Solutions
6.7 CalAmp
6.8 Cambridge Mobile Telematics
6.9 CCC Information Services
6.10
6.11 DriveQuant
6.12 Dolphin Technologies
6.13 FairConnect (Infomobility)
6.14 Greater Than
6.15 IMS (
6.16 Ingenie Business
6.17 Insure Telematics Solutions
6.18 Inzura
6.19
6.20 Meta System
6.21 Modus
6.22 Munic Car Data
6.23 MyDrive Solutions
6.24 Octo Telematics
6.25 OSeven Telematics
6.26 Quartix
6.27 Redtail Telematics
6.28 Sentiance
6.29 Scope Technology
6.30 Swiss Re
6.31 Targa Telematics
6.32 Telematics Technologies
6.33 The Floow
6.34 Trakm8
6.35 TrueMotion
6.36 Verisk Analytics
6.37
6.38
6.39 Webfleet Solutions
6.40 Zendrive
For more information about this report visit https://www.researchandmarkets.com/r/kr3mut
View source version on businesswire.com: https://www.businesswire.com/news/home/20200724005148/en/
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