The world market for location - based insurance ( UBI ) or insurance based on monitoring through devices such as cameras increased by 32 % to reach 14 m policies in 2016 , reports business intelligence firm PTOLEMUS Group . North America represents the biggest market to date with more than 7.1 million active policies. North America holds the largest number of policies , over 7.1 m in total , with 6.5 m policies represented in Europe and 0.4 m in the rest of the world . Two thirds of UBI policies held across the globe are sold to telematics service providers , with insurers offering further telematics and greater ranges of coverage for diagnostics .
The world market for location - based insurance ( UBI ) or insurance based on monitoring through devices such as cameras increased by 32 % to reach 14 m policies in 2016 , reports business intelligence firm PTOLEMUS Group . North America holds the largest number of policies , over 7.1 m in total , with 6.5 m policies represented in Europe and 0.4 m in the rest of the world . Two thirds of UBI policies held across the globe are sold to telematics service providers , with insurers offering further telematics and greater ranges of coverage for diagnostics .