The Usage-Based Insurance market is experiencing explosive growth, poised to transform how insurance is delivered and consumed. With a value of USD 49.4 billion in 2023, this innovative market is expected to surge to USD 288.4 billion by 2030, achieving an impressive compound annual growth rate (CAGR) of 28.7%. Let's explore the key aspects driving this evolution, its applications,...

The insurance industry is witnessing a paradigm shift with the rise of Usage-Based Insurance (UBI) Market. This innovative model of insurance, which tailors premiums based on individual driving behavior, is becoming more prevalent as technology advances. From telematics to connected cars, UBI is making waves in how we think about insurance. The market for Usage-Based Insurance is set to...