Usage Based Insurance

2023 DriverScape Summary: Auto Consumer Attitude Towards UBI

May 4, 2023 / by Ash Naik posted in Issues & Trends, Telematics, Auto, Commercial Auto, Personal Auto, AAIS Views, auto insurance, UBI, Usage Based Insurance

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Personal Auto Insurance is experiencing an unprecedented transformation driven by increasing improvements in telematics. One area leading the transformation is Usage-based Insurance (UBI). While this technology has existed for more than 10 years, it is finally being accepted and adopted by insurance carriers and drivers alike in significant numbers. Fueled by the evolution of telematics, risk models, and pricing; UBI is experiencing quicker-than-anticipated growth. Carriers are presented with new opportunities and challenges unlike any ever before in this new world of technology-driven innovation.

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Is UBI Moving Full Speed Ahead? AAIS Report Snapshots Consumer Attitudes

May 20, 2022 / by Ash Naik posted in Issues & Trends, Telematics, Auto, Commercial Auto, Personal Auto, AAIS Views, auto insurance, UBI, Usage Based Insurance

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While the telematics capabilities that enable auto insurers to track mileage and driving behaviors continue to advance, Usage-Based Insurance (UBI) has  potentially been slow to gain traction among consumers. In keeping with our mission of working with Members to design the best possible insurance products, AAIS recently went direct to consumers to understand the reservations that may be stalling adoption of UBI products and strategies to overcome these obstacles.

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