1. Home
  2. > Financial Services
  3. > Insurance
  4. > Auto Insurance Market Trends
Asia Pacific Automotive Usage-Based Insurance Market to 2027 - Regional Analysis and Forecasts by Technology Fitted; and Policy Type

Asia Pacific Automotive Usage-Based Insurance Market to 2027 - Regional Analysis and Forecasts by Technology Fitted; and Policy Type

  • June 2019
  • 115 pages
  • ID: 5794693
  • Format: PDF
  • The Insight Partners


Table of Contents

Search Inside

The Asia Pacific Automotive UBI market accounted for US$ 1.71 Bn in 2018 and is expected to grow at a CAGR of 25.9% over the forecast period 2019-2027, to account for US$ 13.57 Bn in 2027. The increasing demand for mobility-as-a-service (MaaS) and various type of insurance premium policies is the key driver that is propelling the growth of the automotive UBI market. Moreover, the strategic partnerships among insurance companies and telematics companies are expected to boost the automotive UBI market growth in the forecast period. The insurance companies offering telematics insurance is constantly leveraging on various factors to enhance the solutions and deliver their customers with better schemes. One of the significant trends in the automotive UBI market is the increasing number of partnerships among telematics companies and insurance companies. These partnerships are nourishing the UBI ecosystems in various countries, and the same trend is anticipated to proliferate the market size in the coming years. For instance, Allianz, a prominent insurance brokerage company, extended its partnership with Marmalade, a British insurance company. The agenda of this partnership was to offer the insurance policyholders a smart digital customer interaction platform through new mobile application and portal. In addition, GrabTaxi, a taxi service provider based in Singapore collaborated with AXA, an insurance provider, to introduce UBI policies in the country. The telematics companies are seeking interest in the automotive industry in developing regions worldwide, which is also pacing up the revenue generation stream of the automotive UBI market. Further, the automotive UBI market players are focusing on various initiatives to enhance their capabilities and boost its position in the market.
The automotive UBI market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years.In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the automotive UBI market further.

For instance, APAC is one of the fastest growing IoT in the automotive market globally.The key countries such as China, Japan, and India are greatly adopting IoT at a rapid pace that is propelling the adoption of IoT in APAC automotive market as well.

Rising pollution in the APAC countries, particularly in China, is a major concern.Thus, the governments of several countries are focusing on less CO2 emission as well as fuel efficient solutions.

Owing to this, several companies are seeking to integrate the telematics and IoT enabled navigation that plays a vital role to reduce carbon emission and offer real-time emission data. Recently, Maruti Suzuki launched ‘Suzuki Connect,’ advanced telematics solution for its customers’ in India. Also, the Ministry of Industry and Information Technology and the Standardization Administration of China together issued Guidelines for Developing the Standards System of the Telematics Industry (Intelligent and Connected Vehicles). Such initiates would result in the growth of vehicle telematics, thus, driving the growth of automotive UBI during the forecast period.
On the basis of policy type, the PAYD segment is expected to grow at the highest CAGR during the forecast period.Pay-as-you-drive (PAYD) insurance is a method that calculates rates on a constant basis, generally monthly.

These rates are based on the information gathered on how much you drive.Therefore, changes in driving patterns on a monthly basis are reflected in customers’ premium.

If a customer has driven long distances in a particular month, then, a higher rate is expected.This type of UBI is dynamic in nature and reflects changes in behavior quickly.

One of the biggest restraint for PAYD market growth is the installation of the GPS device in the vehicle. The installation of the device results in sharing information with the insurance provider; thus, several customers consider it as an invasion of their privacy. However, the increasing trend for mobility-as-a-service is expected to drive the PAYD market growth.
The overall automotive UBI market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automotive UBI market.

It also provides an overview and forecast for the automotive UBI market based on all the segmentation provided with respect to the Asia Pacific region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the automotive UBI market. Some of the players present in automotive UBI market are Allianz SE, Assicurazioni Generali S.p.A., AXA SA, Liberty Mutual Insurance Company, MS&AD Insurance Group Holdings, Inc., Octo Telematics S.p.A., Sierra Wireless, Inc., TomTom Telematics BV, Unipolsai Assicurazioni S.p.A., and Vodafone Automotive S.P.A among others.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Global Automotive Usage-based Insurance Market 2023-2027

  • $ 2500
  • November 2022
  • 120 pages

Global Automotive Usage-based Insurance Market 2023-2027 The analyst has been monitoring the automotive usage-based insurance market and it is poised to grow by $69,980.26 mn during 2023-2027, accelerating ...

  • World
  • Middle East
  • Usage Based Insurance
  • Automotive
  • Industry analysis


Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on