Feb 10

Explosive growth projected for Insurance Telematics

ABI Research is projecting that global insurance telematics users will increase from 1.85 miliion in 2010 to 89 million in 2017, growing at 90% CAGR. Usage based insurance (UBI) model is based on continous monitoring of driver behaviour through a cellular device that is plugged in diagnostics port of the vehicle. Insurance telematics covers different models such as pay as you drive (PAYD) or pay how you drive (PHYD).