Report: Climate Change vs. Carmakers
Report: Automotive headwinds align into a perfect storm
With most new cars set to feature some form of connectivity, there is a big opportunity in usage-based insurance (UBI), which is likely to grow sharply in coming years. Paul Stacy, automotive development director for LexisNexis Risk Solutions, explains why following a new deal in which Fiat Chrysler vehicles will connect to the LexisNexis telematics platform in Europe.
The global UBI market is projected to grow at an annual rate of almost 30% in coming years, according to Acumen Research and Consulting. The India-based market intelligence company expects the market to reach a value of around $190 billion by 2026.
That’s a big change from today’s niche market and it shows how new connected-car technologies provide a major new business opportunity for insurance companies and telematics service providers.
To continue reading this article and others like it, please SIGN-IN or REGISTER FREE today.
Register free now to stay up-to-date with the latest industry developments, trends, and analysis, to find in-depth reports and intelligence and to connect with your peers.
Your free registration includes:
Gain access to our exclusive content and features register today
Non-registered users are able to access two AIT exclusive articles per week. You have now used your allocation.
To continue reading this article and others like it, please SIGN-IN or REGISTER FREE today.
