Usage-based insurance (UBI) products appeal to consumers who prefer customized services, and their success is attracting droves of new entrants to the UBI arena.
Usage-based insurance (UBI) products appeal to consumers who prefer customized services, and their success is attracting droves of new entrants to the UBI arena.
Key Question: How can insurers attract new business with distinctive usage-based insurance offerings and positioning?
KEY STAT: We expect the number of UBI drivers in the US to triple between 2019 and 2023, underscoring a significant opportunity for usage-based insurance players.
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Table of Contents
Executive Summary
Competitive Pressures Highlight Need to Turbocharge UBI Offerings
Vice President, Telematics and Usage-Based Insurance
Interviewed February 14, 2022
Beth Riczko
Nationwide
President, P&C Personal Lines
Interviewed February 3, 2022
Andrew Rose
General Motors
President, OnStar Insurance and Vice President, Insurance Innovation
Interviewed February 4, 2022
Randy Termeer
USAA
Auto and Small Commercial General Manager, Property and Casualty Division
Interviewed January 31, 2022
Alex Timm
Root
Co-Founder and CEO
Interviewed February 2, 2022
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