The world market for usage-based insurance (UBI) or insurance based on monitoring through devices such as dongles increased by 32% to reach 14m policies in 2016, reports business intelligence firm PTOLEMUS Consulting. North America holds the largest number of policies, over 7.1m in total, with 6.5m policies represented in Europe and 0.4m in the rest of the world. The global market for usage-based insurance (UBI) insurance grew by 32% in 2016 to 14 million policies, according to PTOLEMUS Consulting Group’s UBI Quarterly Dashboard, released on Thursday. In 2017, a total of 2.3m UBI-based plans were sold globally, up from 1.3mn in 2016.
The world market for usage-based insurance (UBI) or insurance based on monitoring through devices such as dongles increased by 32% to reach 14m policies in 2016, reports business intelligence firm PTOLEMUS Consulting. North America holds the largest number of policies, over 7.1m in total, with 6.5m policies represented in Europe and 0.4m in the rest of the world. In 2017, a total of 2.3m UBI-based plans were sold globally, up from 1.3mn in 2016.