Insurance Telematics in Europe and North America - 8th Edition

Table of Contents

Table of Contents

List of Figures

Executive Summary

1. The Automotive Market

• 1.1. The automotive market in Europe
  • 1.1.1. Vehicles in use and car density
  • 1.1.2. New car registrations and leading manufacturers
• 1.2. The automotive market in North America
  • 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 and 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. Italy
  • 3.1.2. United Kingdom
  • 3.1.3. Iberia
  • 3.1.4. France
  • 3.1.5. Benelux
  • 3.1.6. Austria and Switzerland
  • 3.1.7. The Nordics
  • 3.1.8. Germany
  • 3.1.9. Central and Eastern Europe
• 3.2. Insurance telematics case studies
  • 3.2.1. More than 40 percent of the vehicles insured by UnipolSai feature a black box
  • 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 Europe
  • 3.2.6. Insure The Box has sold more than 1.0 million black box-based policies
  • 3.2.7. Direct Line Group acquires pay-per-mile insurer By Miles
  • 3.2.8. Aviva introduces app-based UBI in the UK
  • 3.2.9. Zego offers behavioural based pricing for UK fleets
  • 3.2.10. Howden Group consolidates broking businesses under single brand
  • 3.2.11. Acorn Insurance offers UBI through the Carrot and Acorn brands
  • 3.2.12. Markerstudy Group acquires Atlanta Group
  • 3.2.13. RSA offers UBI in Ireland via 123.ie
  • 3.2.14. AbbeyAutoline (Prestige) renews ChilliDrive with Howden Driving Data
  • 3.2.15. Stellantis has a long experience in UBI on the European market
  • 3.2.16. Mercedes-Benz offers UBI in Germany, Belgium and France
  • 3.2.17. HUK-Coburg relaunched Telematik Plus in 2019
  • 3.2.18. VHV's Telematik Garant switched to a mobile based telematics solution
  • 3.2.19. Young digital insurtech company Neodigital bets on PHYD car insurance
  • 3.2.20. Groupama offers insurance telematics in multiple countries
  • 3.2.21. MAPFRE provides insurance telematics products in Spain and the US
  • 3.2.22. OSA and Sparkassen Versicherung offer eCall services in Germany
  • 3.2.23. GDV launches eCall service with participating German insurers
  • 3.2.24. Zavarovalnica Triglav brings UBI to Slovenia
  • 3.2.25. Warta pilots app-based UBI in Poland
  • 3.2.26. HDI Global offers telematics solutions in the UK and Italy
  • 3.2.27. Zurich partners with MGA Freedom Services in the UK
  • 3.2.28. If Insurance has long experience of telematics in the Nordics
  • 3.2.29. Paydrive leverages aftermarket and OEM telematics for UBI
  • 3.2.30. VIS pioneers telematics insurance in Iceland
  • 3.2.31. ABAX launches commercial UBI insurance

4. The North American Insurance Telematics Market

• 4.1. Regional market characteristics
  • 4.1.1. United States
  • 4.1.2. Canada
• 4.2. Insurance telematics case studies
  • 4.2.1. Progressive is the UBI telematics pioneer in the US
  • 4.2.2. State Farm works with CMT to enhance the Drive Safe & Save program
  • 4.2.3. Allstate offers Drivewise and Milewise in the US
  • 4.2.4. Liberty Mutual has a broad portfolio of telematics products
  • 4.2.5. Desjardins offers a smartphone app for insurance telematics in Canada
  • 4.2.6. Nationwide offers UBI based on OBD-II, smartphone and OEM telematics data
  • 4.2.7. Farmers offers mobile-based insurance telematics from Driveway Software
  • 4.2.8. Travelers offers UBI powered by Cambridge Mobile Telematics
  • 4.2.9. GEICO offers a smartphone-based telematics program in select US states
  • 4.2.10. Toyota Insurance Management Solutions offers UBI in the US
  • 4.2.11. CAA offers MyPace and Connect powered by OCTO Telematics
  • 4.2.12. Root Insurance is a smartphone-based insurance company
  • 4.2.13. USAA enhances insurance offering by acquiring UBI focused Noblr
  • 4.2.14. Mobileye and Munich Re collaborate in Munich Re's Smart Mobility program
  • 4.2.15. Progressive has launched a second commercial UBI product
  • 4.2.16. Nationwide offers commercial lines insurance telematics solutions
  • 4.2.17. Philadelphia Insurance Companies offers fleet insurance telematics
  • 4.2.18. Ohio Mutual Insurance Group offers app-based UBI in seven states
  • 4.2.19. Liberty Mutual strengthens UBI client base with State Auto acquisition
  • 4.2.20. Verisk Telematics Exchange popular among OEMs before 2024 termination
  • 4.2.21. CMT powers multiple safe driving contests in the US
  • 4.2.22. Intact discontinues its device-based program in favour of mobile solutions
  • 4.2.23. Lemonade acquires Metromile
  • 4.2.24. American Family Insurance offers three UBI programs
  • 4.2.25. HDVI pioneers telematics UBI for fleets of semi-trailer trucks
  • 4.2.26. Tesla to underwrite its own telematics insurance policies
  • 4.2.27. Pouch and Mojio partner to offer fleet insurance to small businesses

5. Market Forecasts and Trends

• 5.1. Market analysis
  • 5.1.1. Insurance telematics policies and penetration in Europe and North America
  • 5.1.2. Form factor developments in Europe and North America
• 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. Industry trends
  • 5.4.1. Customer engagement becomes increasingly important for UBI
  • 5.4.2. Continued broadening of the insurance telematics concept is expected
  • 5.4.3. Insurers will embrace both UBI and claims-related insurance telematics
  • 5.4.4. Smartphone is the most favoured form factor in the industry
  • 5.4.5. Connected cars pave the way for mass-marketisation of insurance telematics
  • 5.4.6. Combined smartphone and connected car data shows promise
  • 5.4.7. Fleet insurance telematics is an opportunity to reduce fleet risks and costs
  • 5.4.8. Privacy concerns are softening across customer segments
  • 5.4.9. Big Data: Ownership and portability of telematics data to be scrutinised
  • 5.4.10. Insurance telematics aims to reduce distracted driving
  • 5.4.11. Mobility trends provide new opportunities for telematics-based insurance
  • 5.4.12. Vehicle diagnostics data from connected cars can create value for insurers
  • 5.4.13. Outlook: Insurance telematics is growing rapidly in other regions
  • 5.4.14. Pay-per-mile insurance programs gain popularity as driving habits shift
  • 5.4.15. Insurers to explore other IoT verticals
  • 5.4.16. The insurance telematics concept to be applicable for more vehicle types
  • 5.4.17. Autonomous cars alter the playing field for motor insurance
  • 5.4.18. Automotive OEMs involved in usage-based insurance products
  • 5.4.19. Insurers begin to offer wider functionality in their app-based UBI solutions
  • 5.4.20. AI to drive the need for data in the insurance industry

6. Company Profiles and Strategies

• 6.1. Agero
• 6.2. Arity
• 6.3. Azuga (Bridgestone)
• 6.4. Brightmile
• 6.5. CalAmp
• 6.6. Cambridge Mobile Telematics
• 6.7. CCC Intelligent Solutions
• 6.8. ClearScore
• 6.9. Conneqtech
• 6.10. Dolphin Technologies
• 6.11. Earnix
• 6.12. FairConnect Group
• 6.13. Greater Than
• 6.14. Howden Driving Data (Howden Group)
• 6.15. IMS
• 6.16. Inzura
• 6.17. LexisNexis Risk Solutions
• 6.18. Meta System
• 6.19. Motix Connected
• 6.20. Munic
• 6.21. OCTO Telematics
• 6.22. OSeven Telematics
• 6.23. Powerfleet (Movingdots)
• 6.24. Radius Telematics
• 6.25. Redtail Telematics
• 6.26. Sentiance
• 6.27. Scope Technology
• 6.28. Sycada
• 6.29. Targa Telematics
• 6.30. Telematics Technologies
• 6.31. The Floow
• 6.32. Trakm8
• 6.33. Valtech Mobility
• 6.34. Verisk Analytics
• 6.35. Vodafone Automotive
• 6.36. Webfleet
• 6.37. Xirgo Technologies
• 6.38. ZenDrive
• List of Acronyms and Abbreviations

List of Figures

• Figure 1.1: Vehicles in use (EU+EFTA+UK 2022)
• Figure 1.2: Passenger car density per 1,000 inhabitants (EU+EFTA+UK 2022)
• Figure 1.3: Passenger car registrations by manufacturer (EU+UK+EFTA 2023)
• Figure 1.4: Vehicles in use (North America 2022)
• Figure 1.5: Passenger car registrations by manufacturer (North America 2023)
• Figure 1.6: Motor insurance statistics (EU22+3 2022)
• Figure 2.1: Distribution of fatal crashes by day of week and time of day (The US 2022)
• Figure 2.2: Subcategories of usage-based insurance and insurance telematics
• Figure 2.3: Schematic classification of insurance telematics
• Figure 2.4: Insurance telematics infrastructure overview
• Figure 2.5: Examples of principal insurance telematics form factors
• Figure 2.6: Examples of feedback from Progressive's smartphone app Snapshot
• Figure 2.7: Example of a windscreen-mounted Bluetooth device from CMT
• Figure 2.8: GDV-Stecker 12 V device provided by Bosch
• Figure 2.9: Nextbase's Dash Cam 522 GW and Rear Window Cam module
• Figure 2.10: Schematic insurance telematics risk rating process
• Figure 2.11: Web- and smartphone-based interfaces and dashboards for end-users
• Figure 2.12: Telematics strategies for insurance providers
• Figure 3.1: Allianz's top telematics markets (Q4-2024)
• Figure 3.2: Overview of the Your Portal interface for insurethebox policyholders
• Figure 3.3: Marmalade Young Driver app and tag developed by CMT
• Figure 3.4: Windscreen device and app from VHV
• Figure 4.1: Progressive's Snapshot OBD-II telematics device supplied by Xirgo
• Figure 4.2: State Farm's Bluetooth-beacon enhanced smartphone app
• Figure 4.3: Growth of Allstate's UBI offer Drivewise (2011-2023)
• Figure 4.4: Travelers IntelliDrive
• Figure 4.5: Mobileye 8 Connect including camera, GPS unit and EyeWatch display
• Figure 5.1: Insurance telematics policies and penetration (Europe 2023-2028)
• Figure 5.2: Insurance telematics policies by country (North America 2023-2028)
• Figure 5.3: Distribution of insurance telematics form factors (Europe 2023-2028)
• Figure 5.4: Distribution of insurance telematics form factors (North America 2023-2028)
• Figure 5.5: Key players in the insurance telematics value chain
• Figure 5.6: Examples of telematics hardware providers serving the insurance space
• Figure 5.7: M&As in the insurance telematics space (2014-2024)
• Figure 6.1: Munic's C4 OBD-II V8 and the new C4R Max V8 dongles