Flexible premiums, lower accident and vehicle theft possibilities, accurate and timely data collection are among the factors driving growth in this market. (Credit: monicaodo/Shutterstock)
Usage-based insurance for auto coverage is anticipated to surge in the coming years, with the global market expected to witness nearly 25% growth through 2026, according to UnivDatos Market Insights.
Major factors pushing this market forward are flexible premiums, lower accident and vehicle theft possibilities, accurate and timely data collection and lower fuel consumption, according to the market research company.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
