Usage-Based Insurance (UBI) expected to grow to 142M subscribers globally by 2023
Usage based auto insurance (UBI) is a growing segment of the automotive insurance market, the result of a technological revolution as the Internet of Things (IoT) continues to further influence various industries, including automotive. In 2015, close to 12 million consumers globally subscribed to this type of insurance and this number is expected to grow to 142 million globally by 2023, according to the new IHS Usage Based Insurance (UBI) - 2016 report.
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