Usage-Based Insurance Market Growth, Demand and Challenges of the Key Industry Players 2024-2032
                     Global Usage-Based 
Insurance Market 
Research and Forecast 
Report 2024-2032
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved 
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Accord ing  to  t he  la tes t  repo r t  by  IMARC Group,  t i t l ed  " Usage-Based  I nsurance 
Market :  G l oba l  Indust ry  T rends ,  Share ,  S ize ,  Growth ,  O pportun i ty  and  
Forecast  2024-2032, "  t he  g loba l  usage-based insurance marke t  s i ze  reached 
US$  51 .4  B i l l i on  in  2023.
Report Usage-based  insu rance  (UB I ) ,  a l so  known as  t e l emat ics  insu rance ,  re fe rs  to  a  
spec ia l i zed  au tomob i l e  insu rance  po l i cy  where  t he  p remium  is  l i nked w i t h  the  
usage  o f  t he  consumer ’s  d r i v ing  behav io r  o r  usage o f  t he  veh ic le .  I t  i s  a l so  used 
Highlight and t o  a l ign  t he  d r i v ing  behav io r  o f  i nd iv idua ls .  I t  i s  genera l l y  ava i lab le  in  pay -per -
m i le  (PPM)  and pay-how-you-d r i ve  (PHYD)  f o rm at s .  
Description A w i re less  dev ice  i s  ins ta l led  in  t he  ca r ,  wh ich  t r ansmi t s  da t a  to  the  insu re r  each  
t ime  premium is  due .  I n  recen t  yea rs ,  UB I  has  ga ined t rac t ion  as  i t  i s  more  
pe rsona l i zed ,  reduces  t he  ins tances  o f  r oad  acc iden ts ,  and  p rov ides  be t te r  
sa t i s f ac t i on  t o  the  po l i cyho lde r  compared  to  conven t iona l  i nsurance po l i c ies .
Request  fo r  a  PDF  sample  o f  th i s  repor t :  
ht tps : / / www. imarcgroup .com/usage-based- insu rance-marke t / r eques tsamp le
Report Description
G l ob a l  Us age- Base d  I n suran ce  M arke t  T ren ds :
O ne  o f  t h e  p r im a r y  f a c t o r s  d r i v i ng  t h e  m ar ke t  i s  t he  e xpon en t i a l  g r ow t h  i n  t he  au t om o t i ve  i ndus t r y .  Ad d i t i o na l l y ,  t he  
ex t e ns i ve  e m p loy m en t  o f  r e m o t e  d iagno s t i cs  t o  obse r ve  c onsum er  d r i v i ng  i s  c r ea t i ng  a  pos i t i ve  m a r ke t  o u t l ook .  O t he r  
t han  t h i s ,  usa ge - b ased  i nsu r ance  p r ov ides  num er ou s  ad van t a ges ,  i nc lu d ing  a ccu r a t e  a nd  t im e ly  d a t a  c o l l ec t io n  m e t hods  
and  f l ex ib le  i nsu r ance  p r em ium s .  Be s ides  t h i s ,  t he  a dop t i on  o f  adv anced  t ech no log y ,  su ch  as  hyb r id - b ased  U BI  an d  
sm a r t pho ne - b ased  UBI ,  and  t he  in c r ea s ing  conce r ns  r ega r d ing  d r i ve r ’ s  s a f e t y ,  a r e  p r o pe l l i ng  t he  m ar k e t  g r ow t h .  
I n  l i ne  w i t h  t h i s ,  t e l e m a t i cs  i s  be ing  em p loye d  i n  t he  au t om o t i ve  i ndus t r y  t o  a l i gn  i nsu r ance  p r i c es  a nd  i m pr o ve  d r i v i n g  
beha v io r  and  r oa d  sa f e t y .  Fu r t he r m or e ,  k ey  p laye r s  a r e  i n t eg r a t i n g  a dvanc ed  t e lem a t i cs - base d  p la t f o r m s  i n  l i gh t - du t y  
veh i c les  ( LD V)  t o  m on i t o r  t he  d r i v i ng  hab i t s  o f  t he  con sum er .  Apa r t  f r om  t h i s ,  UB I  i nsu r anc e  a lm os t  e l im ina t es  t he  nee d  
f o r  i ns t a l l i ng  an  add i t i ona l  b lack - box  i n  t h e  ve h i c les  t o  r eco r d  veh i cu la r  da t a ,  wh i ch  i s  ca t a l yz ing  t he  m ar k e t  g r ow t h .
Look i ng  f o rw ard ,  I M A RC G rou p  ex pec t s  t he  ma rke t  va l ue  t o  r each  US$  3 07 . 6  B i l l i on  by  2032 ,  expa nd i ng  a t  a  CAG R  
o f  21 . 3% dur i ng  t h e  f o reca s t  pe r i o d  ( 20 24 - 2 032 ) .
V i ew  Repo r t  T O C,  F i g ures  and  T ab l e s :  h t t ps : / / w w w . i mar cgrou p . com / us age- based - i ns uranc e - ma rke t
Breakup by Type:
• Pay-As-You-Drive (PAYD)
• Pay-How-You-Drive (PHYD)
• Manage-How-You-Drive (MHYD)
• Others
Report Breakup by Technology:
• OBD I I
Segmentation
• Black Box
• Smartphones
• Others
Breakup by Vehicle Type:
• Light-duty Vehicle (LDV)
• Heavy-duty Vehicle (HDV)
Breakup by Vehicle Age:
• New Vehicles 
• Used Vehicles
Report 
Breakup by Region:
Segmentation • North America
• Asia-Pacifi c
• Europe
• Latin America
• Middle East and Afr ica
• Aioi  Nissay Dowa Insurance UK Ltd
• Al l ianz SE
• Al lstate Insurance Company
• American Internat ional  Group Inc.
Competitive • Assicurazioni  General i  S.p.A.
Landscape • AXA
• Liberty Mutual  Insurance Company
with Key 
• Mapfre S.A.
Players • Progressive Casualty Insurance Company
• State Farm Automobi le Mutual  Insurance 
Company
• TomTom Internat ional  BV.
• UnipolSai  Assicurazioni  S.p.A. (Unipol  Gruppo 
S.p.A)
What was the size of the global usage-based 
insurance market in 2023?
What is the expected growth rate of the global 
usage-based insurance market during 2024-2032?
Key What are the key factors driving the global usage-
based insurance market?
Questions 
What has been the impact of COVID-19 on the 
Answered in global usage-based insurance market?
the Report What is the breakup of the global usage-based 
insurance market based on the type?
What is the breakup of the global usage-based 
insurance market based on the technology?
What is the breakup of the global usage-based 
insurance market based on the vehicle type?
What is the breakup of the global usage-based 
insurance market based on the vehicle age?
Key What are the key regions in the global usage-based 
insurance market?
Questions 
Who are the key players/companies in the global 
Answered in usage-based insurance market?
the Report
1     P r e f a c e
2     S c o p e  a n d  M e t h o d o l o g y
    2 . 1     O b j e c t i v e s  o f  t h e  S t u d y
    2 . 2     S t a k e h o l d e r s
    2 . 3     D a t a  S o u r c e s
        2 . 3 . 1     P r i m a r y  S o u r c e s
        2 . 3 . 2     S e c o n d a r y  S o u r c e s
    2 . 4     M a r k e t  E s t i m a t i o n
Table of         2 . 4 . 1     B o t t o m - U p  A p p r o a c h        2 . 4 . 2     T o p - D o w n  A p p r o a c h
    2 . 5     F o r e c a s t i n g  M e t h o d o l o g y
3     E x e c u t i v e  S u m m a r y
4     I n t r o d u c t i o n
Contents     4 . 1     O v e r v i e w    4 . 2     K e y  I n d u s t r y  T r e n d s5     G l o b a l  U s a g e - B a s e d  I n s u r a n c e  M a r k e t
    5 . 1     M a r k e t  O v e r v i e w
    5 . 2     M a r k e t  P e r f o r m a n c e
    5 . 3     I m p a c t  o f  C O V I D - 1 9
    5 . 4     M a r k e t  F o r e c a s t
6      M a r k e t  B r e a k u p  b y  T y p e
    6 . 1     P a y - A s - Y o u - D r i v e  ( P A Y D )
        6 . 1 . 1  M a r k e t  T r e n d s
        6 . 1 . 2  M a r k e t  F o r e c a s t
    6 . 2     P a y - H o w - Y o u - D r i v e  ( P H Y D )
        6 . 2 . 1  M a r k e t  T r e n d s
        6 . 2 . 2  M a r k e t  F o r e c a s t
    6 . 3     M a n a g e - H o w - Y o u - D r i v e  ( M H Y D )
        6 . 3 . 1  M a r k e t  T r e n d s
        6 . 3 . 2  M a r k e t  F o r e c a s t
       
    6 . 4     O t h e r s
        6 . 4 . 1  M a r k e t  T r e n d s
        6 . 4 . 2  M a r k e t  F o r e c a s t
7    M a r k e t  B r e a k u p  b y  T e c h n o l o g y
    7 . 1     O B D  I I
        7 . 1 . 1  M a r k e t  T r e n d s
        7 . 1 . 2  M a r k e t  F o r e c a s t
    7 . 2     B l a c k  B o x
        7 . 2 . 1  M a r k e t  T r e n d s
        7 . 2 . 2  M a r k e t  F o r e c a s t
    7 . 3     S m a r t p h o n e s
Table of         7 . 3 . 1  M a r k e t  T r e n d s        7 . 3 . 2  M a r k e t  F o r e c a s t
    7 . 4     O t h e r s
        7 . 4 . 1  M a r k e t  T r e n d s
Contents         7 . 4 . 2  M a r k e t  F o r e c a s t8    M a r k e t  B r e a k u p  b y  V e h i c l e  T y p e
    8 . 1     L i g h t - d u t y  V e h i c l e  ( L D V )
        8 . 1 . 1  M a r k e t  T r e n d s
        8 . 1 . 2  M a r k e t  F o r e c a s t
    8 . 2     H e a v y - d u t y  V e h i c l e  ( H D V )
        8 . 2 . 1  M a r k e t  T r e n d s
        8 . 2 . 2  M a r k e t  F o r e c a s t
9    M a r k e t  B r e a k u p  b y  V e h i c l e  A g e
    9 . 1     N e w  V e h i c l e s  
        9 . 1 . 1  M a r k e t  T r e n d s
        9 . 1 . 2  M a r k e t  F o r e c a s t
    9 . 2     U s e d  V e h i c l e s
        9 . 2 . 1  M a r k e t  T r e n d s
        9 . 2 . 2  M a r k e t  F o r e c a s t     
F o r  m o r e  i n f o r m a t i o n ,  v i s i t :  
h t t p s : / / w w w. im a rcg ro u p . co m / u s a ge - b a s ed - i n s u r a n ce - m a r ke t / t o c
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