Keyword
UBI
Paid Usage Based Insurance – What’s in it for Brokers?
May 9, 2021 CAA Insurance CompanyA fundamental need for today’s insurance consumer is flexibility. As witnessed over the past year, consumers want choice when it comes to their auto insurance, and the ability to take control of their costs. Usage based insurance (UBI), otherwise known…
Are you offering insurance products that your clients want during the pandemic?
March 16, 2021 by Jason ContantSeven in 10 consumers and small business owners want home protection and usage-based insurance policies for the current remote working environment, a recent survey from Ernst & Young found. “With consumers spending more time at home and online, new concerns…
How Intact is changing usage-based auto insurance in one province
October 21, 2019 by Greg MeckbachIntact Insurance is making some key changes to its usage-based insurance (UBI) product for motorists in Nova Scotia. Essentially, the company is requiring continual monitoring of an insured’s driving behaviour rather than having the same discount apply until the end…
Allstate Canada expands UBI program Drivewise into Nova Scotia after “great success” in Alberta and Ontario
August 15, 2017 by Canadian UnderwriterThe Allstate Insurance Company of Canada announced on Monday that it is expanding its usage-based insurance (UBI) program Drivewise in Nova Scotia “after experiencing great success in the provinces of Alberta and Ontario.” Drivewise rewards those who exhibit safe driving…
U.S. consumers embracing connected cars and usage-based auto insurance: Willis Towers Watson survey
June 7, 2017 by Canadian UnderwriterMore than half (55%) of drivers in the United States who participated in a usage-based insurance (UBI) survey from Willis Towers Watson (WTW) have reported that they are “likely to buy a new or pre-owned vehicle equipped with new technology…
Global market for usage-based insurance grew by 32% in 2016 to 14 million policies: PTOLEMUS
May 18, 2017 by Canadian UnderwriterThe global market for usage-based insurance (UBI) insurance grew by 32% in 2016 to 14 million policies, according to PTOLEMUS Consulting Group’s UBI Quarterly Dashboard, released on Thursday. The dashboard is a 100-page quarterly quantitative and business intelligence report surveying…
Global IoT insurance market to reach nearly US$43 billion by 2022: study
February 6, 2017 by Canadian UnderwriterThe global Internet of Things (IoT) insurance market is estimated to grow dramatically at a compound annual growth rate (CAGR) of 65.89% to reach US$42.76 billion by 2022 from 2016, according to a new report from Research and Markets. The…
LexisNexis Risk Solutions brings advanced analytics to U.S. telematics programs
January 24, 2017 by Canadian UnderwriterLexisNexis Risk Solutions has advanced its proprietary technology for insurance telematics programs in the U.S. to ensure the policyholder and driver are the same, contributing to a true picture of driver behaviour and improving consumer experience. “Up until now, U.S.…
Global UBI market to reach US$123 billion by 2022, upsurge in demand expected from Canada and U.S.: report
November 23, 2016 by Canadian UnderwriterThe global usage-based insurance (UBI) market is expected to garner US$123 billion by 2022, growing at a compound annual growth rate of 36.4% from 2016 to 2022, according to a new report from Allied Market Research (AMR). According to the…
Octo North America releases new suite of products for connected cars
October 17, 2016 by Canadian UnderwriterOcto North America announced on Monday that it has released a suite of new telematics products for connected cars. Octo Telematics, a London, United Kingdom-based global provider of telematics and data analytics solutions for the auto insurance industry, said in…
Gap exists between opportunity, willingness to take part in usage-based insurance programs in U.S.: LexisNexis
August 25, 2016 by Canadian UnderwriterThere is an apparent gap between polled U.S. drivers who are open to taking part in usage-based insurance (UBI) and those who are provided the opportunity to do so, suggest survey results released today by LexisNexis Risk Solutions. That disconnect…
U.S. telematics, UBI face market limits, value-added services may be key to growth: Novarica
July 13, 2016 by Canadian UnderwriterA focus on services-based programs, and not discounts, will be a crucial differentiator for telematics and usage-based insurance (UBI) in the United States as insurers look to increase customer adoption and market growth, research and advisory firm Novarica said in…