Insurance Telematics

Octo Telematics Brings UBI and Fleet Services to GM’s OnStar - 11/04/2015

Telematics vendor Octo Telematics has partnered with General Motors (GM) to provide Usage Based Insurance (UBI) and fleet management solutions using General Motor’s OnStar technology. The new services will be available to insurers and fleet...

Visiongain Forecasts 21.7M UBI Policyholders in 2015: Really? - 10/12/2015

Market research firm Visiongain in a new report forecasts that “the global market for automotive usage-based insurance (UBI) will account for 21.7 million policyholders in 2015, a significant increase over the 12.2 million policyholders accounted...

Canadians Skeptical About the Benefits of Usage-Based Insurance - 10/01/2015

Insurance company Allstate polled 1,456 Canadian in August to learn about their views on insurance telematics. The survey found that Canadians are quite skeptical about how a UBI program could benefit them. Only 41 per cent felt the biggest...

LexisNexis: “Insurance Telematics Based on Discount is Not Sustainable“ - 09/02/2015

According to the newly published “2015 LexisNexis Usage-Based Insurance Study,“ to build a long term business case and grow the market of usage-based insurance (UBI), insurers cannot rely on discounted premium but should instead focus their...

Octo Reaches 1M Insurance Telematics Users in North America - 09/02/2015

Global telematics service provider Octo Telematics has announced to have deployed 1 million of its Usage Based Insurance (UBI) devices in North America. “With over 3.7 million active customers worldwide and our rapid growth in the North American...

Driveway Software Raised $10M For Smartphone-Based UBI - 08/04/2015

Telematics startup Driveway Software has closed a $10 million Series A funding to offer telematics-based insurance via a smartphone app. The round was led by Ervington Investments, representing prominent Russian businessman Roman Abramovich....

Generali Acquires Insurance Telematics Startup MyDrive - 07/23/2015

Generali Group announced today that it has acquired full control of MyDrive Solutions, an English start-up founded in 2010 and dedicated to the use of data analytics tools to profile driving behavior for insurance purposes. “The acquisition of...

Has the UK UBI Market Reached its Ceiling Already? - 07/16/2015

The Usage-Based Insurance (UBI) market’s slowing growth in the UK is a stark reminder that the concept of telematics insurance is far from mature

Usage-Based Insurance: Is it a Bubble? - 07/14/2015

There is a consensus in the market that despite all promises and forecasts, UBI has not become mainstream, and it is still in its infancy. Therefore, it is about the right time to stop the race for a moment and examine whether insurance telematics...

OBD Startup Automatic Raises $24M in Series B - 06/25/2015

Aftermarket connected car startup Automatic announced today a series B funding of $24 million. In this round, an investment subsidiary of USAA, CDK Global, and Comcast Ventures join existing investors Y Combinator, RPM Ventures, Anthemis Group,...

UK Insurance Brokers Association: 323,000 Live Telematics Policies - 05/25/2015

Newly released research by the British insurance Brokers’ Association (BIBA) estimates they are 323,000 live ‘black box’ telematics motor insurance policies in the United Kingdom. This compares to 296,000 in December 2013 (up nine percent). Graeme...

9M Insurance Telematics Policies in EU & North America Today - 05/18/2015

Europe and North America have today reached 9 million insurance telematics policies, estimated market research firm Berg Insight. The number of insurance telematics policies in force on the European market reached 4.8 million in the last quarter of...
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