Usage-Based Insurance for Automotive Market

Usage-based insurance (UBI) for automotive is an insurance model where premiums are calculated based on a vehicle's actual usage and driving behavior, tracked via telematics. The primary customers are owners of passenger and commercial vehicles seeking more flexible and cost-effective insurance policies. Key growth drivers include the widespread adoption of telematics and connected car technology, supportive regulatory frameworks promoting road safety, and the rising popularity of electric vehicles and shared mobility services.