Europe Usage-Based Insurance Market - Industry Insights, Drivers, Top Trends, Global Analysis And Forecast to 2027

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Europe Usage-Based Insurance Market - Industry
Insights, Drivers, Top Trends, Global Analysis
And Forecast to 2027
Usage-Based Insurance Market, By Package Type
(Pay-As-You-Drive (PAYD), Pay-How-You-Drive
(PHYD) and Manage-How-You-Drive (MHYD)),
Technology (OBD-II, Smartphone, Black Box,
Embedded and Other Technologies), Vehicle Type
(Light-Duty Vehicle (LDV) and Heavy-Duty Vehicle
(HDV)), Vehicle Age (New Vehicle and On-Road
Vehicle), Device Offering (Bring Your Own Device
(BYOD) and Company Provided), Electric and Hybrid
Vehicle (Battery Electric Vehicle (BEV), Hybrid
Electric Vehicle (HEV) and Plug-in Hybrid Vehicle
(PHEV)), Country (Germany, Italy, U.K., France,
Spain, Netherlands, Belgium, Switzerland, Turkey,
Russia, Rest of Europe) Industry Trends and
Forecast to 2027
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-market
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Report Description
The usage-based insurance market is expected to
reach USD 48.68 billion by 2027 witnessing market
growth at a rate of 22.5 in the forecast period
of 2020 to 2027. Data Bridge Market Research
report on usage-based insurance market provides
analysis and insights regarding the various
factors expected to be prevalent throughout the
forecasted period while providing their impacts
on the markets growth. Insurance is a form
of risk management which offers protection from
financial loss. Usage based insurance is a type
of insurance where the premium is directly linked
depending on the usage of the product. This type
of insurance is also known as telematics
insurance and it is very convenient since the
premium can be customised as well as the device
attached to it provides driving assistance. This
premium depends on the driving habits and
behaviour of the insurer and their probability of
raising a claim. Insurance regulatory bodies
around the world are in favour of implementing
this kind of insurance.
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market
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Major Key Players

• Some of the major players operating in this
  market are
• Allianz SE
• AXA S.A
• Insure The Box Ltd
• Progressive Corporation
• Allstate Corporation
• Desjardins Insurance
• Generali Group
• Mapfre S.A.
• Metromile
• Aviva plc., Admiral Group Plc

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usage-based-insurance-market
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Market Segmentation

• By Package Type (Pay-As-You-Drive (PAYD),
  Pay-How-You-Drive (PHYD) and Manage-How-You-Drive
  (MHYD))
• By Technology (OBD-II, Smartphone, Black Box,
  Embedded and Other Technologies)
• By Vehicle Type (Light-Duty Vehicle (LDV) and
  Heavy-Duty Vehicle (HDV)

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Regional Analysis

• Based on geography, the market is segmented into
  five geographical regions
• North America
• Europe
• Asia-Pacific
• South America
• Middle East
• Africa

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