The world market for usage-based insurance (UBI) or insurance based on monitoring through devices such as dongles increased by less than 5% to reach Two thirds m policies in 2016 , reports business intelligence firm PTOLEMUS Consulting . The assessment reveals that the global connected auto insurance market continued to grow rapidly in 2016 to 278 active programmes from 237 in 2015, PTOLEMUS said in a press release. North America holds the largest number of policies, over 7.1m in total, with 6.5m policies represented in North America and 0.4m in the rest of the world. 14 of PTOLEMUS Consulting policies held across the globe are outsourced to telematics service providers, with insurers offering further telematics and greater ranges of devices for diagnostics.
The world market for usage-based insurance (UBI) or insurance based on monitoring through devices such as dongles increased by less than 5% to reach Two thirds m 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 North America and 0.4m in the rest of the world. 14 of PTOLEMUS Consulting policies held across the globe are outsourced to telematics service providers, with insurers offering further telematics and greater ranges of devices for diagnostics.