How telematics is rewriting risk in the auto insurance industry
Valued at approximately $46.9 billion in 2024, the usage-based insurance (UBI) market is expected to grow to $70.5 billion by 2030, according to researcher and technology services provider MarketsandMarkets. As adoption grows, UBI could fundamentally change the way insurance companies operate. The UBI requires car owners to share their driving data in exchange for more…