Rising Interest in UBI & Teen Driving Behavior Monitoring in the U.S.

Rising Interest in UBI & Teen Driving Behavior Monitoring in the U.S.
A consumer poll released yesterday by LexisNexis Risk Solutions, indicated a rising interest of American drivers for usage-based insurance (UBI) and related safety features offered by in-car telematics.

Between 2013 and 2014 the awareness about UBI has grown only 1 percent in the general driving population (37 to 38 percent), however it is up 14 percent (31 to 45 percent) in the 21 to 25 years old age group.

The interest for UBI at lower discount rate is also growing, demonstrating a maturation of the consumer perception for this kind of insurance policies.

Teen driving behavior, roadside assistance
Furthermore, the study found that interest in monitoring teen driving behavior through telematics has increased by 12 percent since 2013. 45 percent of those surveyed are more likely to adopt UBI to get information on how others in their household are driving.

Interest in safety features, such as emergency roadside assistance, automatic emergency crash response and stolen vehicle tracking and recovery has increased by 6 percent since 2013.

Similar to basic UBI, interest in smartphone-based UBI is also growing with an increase from 29 percent in 2013 to 34 percent in 2014.

In addition to the consumer poll, LexisNexis made a focus on the perception of UBI by managers of small fleets (see results in the following page).

See below the consumer results of the study:

Thursday, August 28th 2014

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