Asia-Pacific Usage Based Insurance Market Thriving Worldwide, Investigated in Latest Research

Asia-Pacific Usage Based Insurance Market

This Asia-Pacific Usage Based Insurance Market report provides complete analysis of the market on global and regional level. It inspects the development rate   and the market value dependent on the market elements and growth initiating factors.  The market players are profiled and their improvement strategies are separated so as to manage new participants as well as set up players. It likewise features the top to bottom investigation of different unequivocal parameters. This Asia-Pacific Usage Based Insurance Market report also offers various methodologies for boosting the presentation of the organizations.

Asia-Pacific usage based insurance market is expected to reach a healthy CAGR of 20.6% in the forecast period of 2019 to 2026.

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Market Definition :

As name suggested usage based insurance is calculated by how corresponding vehicle is driven. In other words, usage based insurance is a kind of auto-insurance which totally depends on vehicle used, measured against time, distance, behaviour, place and others. These all usages can be measure using telematics technology; the technology is available in from of mobile application, pre-installed in the car’s network or it can be installed in USB port of the vehicle.

Segmentation: Asia-Pacific Usage Based Insurance Market

Asia-Pacific Usage Based Insurance Market, By Package type (pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), manage-how-you-drive (MHYD))

vehicle type (light-duty vehicle (LDV), heavy-duty vehicles (HDV)), device offering (company provided, bring your own device (BYOD))

technology (OBD-II, smartphone, embedded system, black box and others)

vehicle age (new vehicles, on-road vehicles)

electric and hybrid vehicle (hybrid electric vehicle (HEV), plug-in hybrid vehicle (PHEV), battery electric vehicle (BEV))

Countries (Japan, China, South Korea, India, Singapore, Thailand, Malaysia, Australia, Indonesia and Philippines )

Topmost Outstanding Market Players 

Some of the prominent participants operating in this market are Intelligent Mechatronic Systems Inc., TrueMotion, Cambridge Mobile Telematics, Insure The Box Limited, Progressive Casualty Insurance Company, Modus Group, LLC, Inseego Corp, Metromile Inc., The Floow Limited, Vodafone, Allstate Insurance Company, Octo Group, , TomTom International, Allianz, AXA Equitable Life Insurance Company, , Liberty Mutual Insurance, Verizon, Sierra Wireless, , Mapfre, Movitrack Viasat, Inc., ASSICURAZIONI GENERALI S.P.A., and UNIPOLSAI ASSICURAZIONI S.P.A.

Focal points covered in this Asia-Pacific Usage Based Insurance Market report

  • This Asia-Pacific Usage Based Insurance Market report provides pin point analysis of the market outlook and later establishes its comparison with current patterns. Also it creates a relationship of the market outlook with Porter Five Force Analysis
  • This research report is inclusive concept of the market progression. The market progression considers the components of the present situation and compares the current scenario of the market with future developmental chances.
  • The Asia-Pacific Usage Based Insurance Market research report includes investigation at global and regional levels. These comprehensive and local level investigations are inclusive of the request as well as the supply powers which in turn willingly or unwillingly affects the market development
  • Various Topics such as product offering, finance related data, recent developments, analysis of Strengths, weakness, Opportunities and Threats in the upcoming scenario are highlighted in this research report.

Recent developments:

  • In September 2018, Allstate launched a product for life insurance which will pay on monthly basis rather than lump sum amount. This is consumer driven product which will help the company to cover more market share and to aware the people about life insurance.
  • In October 2018, The Floow launches FlowFleet for the insurer who deals in commercial line. This helped the insurance company to better manage the risk and to provide the optimal premium price to their customer in the high premium rising market.
  • In June 2018, Allstate launched pay per mile i.e. usage based insurance in New Jersey. This insurance gives more control to customer about their insurance premium and plans.for using telematics services for better management in their insurance segment.
  • In March 2018, Octo Telematics entered into partnership with Renault finance company to provide data analytics and services to its customer globally. This will increase the global market share of the company.

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