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(Transportation-News.com, July 20, 2018 ) The global automotive insurance market is evolving with the growing automotive industry. With increasing need for safety, the insurance coverage for vehicles is also growing at higher premiums.
Publisher's analysts forecast the global automotive usage-based insurance market to grow at a CAGR of 6.87 % during the period 2018-2022.
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The cost of UBI varies from traditional auto insurance. UBI converts fixed costs into variable costs and enables the calculation of premium based on the mileage and other rating factors. Market study identifies the flexible pricing schemes to be one of the primary growth factors for the automotive usage-based insurance market. UBI is a flexible pricing scheme that facilitates cost variation based on driving behavior, that is tracked using telematics. This flexible pricing scheme makes the auto insurance premium more individualized and precise.
Key vendors
-Allianz
-Intelligent Mechatronic Systems
-Watchstone Group
-Octo Telematics
-Sierra Wireless
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Market driver
-Flexible pricing scheme
Market challenge
-High cost of telematic device installation
Market trend
-Shared data plans to reduce data subscribers per user
Fundamentals of Table of Content:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Global construction market
PART 06: Market drivers
PART 07: Market trends
PART 08: Global AEC market
PART 09: Market segmentation by product
PART 10: Geographical segmentation
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Five forces model
PART 14: Key vendor analysis
PART 15: Key vendor profiles
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