Market Overview

PTOLEMUS: Driven by the Success of Mobile Insurance, the Number of UBI Customers Has Soared Past 20 Million


PTOLEMUS has issued its annual Usage-Based Insurance (UBI) overview,
disclosing the market's key indicators in an infographic that can be
downloaded here.
The statistics are based on PTOLEMUS' quarterly UBI market dashboard
as of March 2018.

This press release features multimedia. View the full release here:

UBI growth indicators 2018 from PTOLEMUS UBI Dashboard  Credit: @PTOLEMUS Consulting Group

UBI growth indicators 2018 from PTOLEMUS UBI Dashboard
Credit: @PTOLEMUS Consulting Group

Initially a niche product in the auto insurance market, UBI has
become mainstream.
In over 10 years of evolution, it has grown to
cover all customer segments using countless value propositions and 6
different device categories.

Today, UBI has entered a new phase as it integrates with and powers insurers'
mobile strategy
. Four million smartphones are now used in UBI and
Try Before You Buy (TBYB) programmes, making this platform the most
effective accelerator in UBI history

The impact of smartphone apps is most visible in China, where changes in
regulation have opened up the UBI market virtually overnight, creating
an estimated 1.8 million smartphone insurance policies.

The growth is not only seen in China. There are now almost 100 more
active UBI programmes compared to 2 years ago. The biggest growth
markets are also changing: Germany and France are now
leading while more mature markets such as Italy and the US are lagging

However, despite this growth, the market remains in its infancy. Only 5%
of Americans use UBI today.

Altogether, the PHYD (Pay How You Drive) model still represents the
majority of policies, but PAYD (Pay As You Drive) is still a very
potent value proposition that is gathering investments and now
represents 27% of the market. Also, 30% of the 98 mobile UBI programmes
active today are TBYB, where the driver can monitor its driving without
being insured through the app.

More details concerning the evolution of the UBI market can be found
within PTOLEMUS'
quarterly UBI dashboard
. The forthcoming Mobile Insurance Global
Study, to be published in September, will also cover the latest UBI
trends. For more information, contact Thomas Hallauer at

PTOLEMUS is the first strategy consulting & research firm
entirely focused on connected mobility and automation. It assists all
connected insurance stakeholders in defining and executing their
strategies. It has completed 120 assignments related to telematics,
including 60 in the domain of UBI and insurance analytics.

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