Dublin, July 15, 2024 (GLOBE NEWSWIRE) -- The "Growth Opportunities for Usage-based Insurance in Leasing and Rental Fleets in Europe, 2024 2028" report has been added to ResearchAndMarkets.com's offering.
In the rapidly changing automotive landscape, disruptive technologies are paving the way for a multitude of customer conveniences, with usage-based insurance (UBI) emerging as a standout example. This innovative business model is revolutionizing how insurance companies, original equipment manufacturers (OEMs), and leasing and rental fleets collect insurance data, implement safety measures, and optimize operational efficiencies. This shift has gained widespread acclaim among consumers, who welcome the democratization of insurance services. Naturally, the transformative landscape in the UBI space is growing, with a wealth of growth opportunities waiting to be seized.
This study focuses on UBI in the leasing and rental industry in Europe, and it aims to understand and correlate the UBI solutions ecosystem and the services offered to fleet customers as well as the features that benefit the industry. UBI is emerging as a transformative business within the automotive landscape across Europe. Italy, the United Kingdom, Germany, France, and Spain are embracing UBI solutions due to flexible personalized plans, usage-based pricing structures, and consumer transparency. Telematics-driven data is revolutionizing risk assessment for insurance companies.
By taking advantage of real-time analytics derived from connected vehicles, insurers gain invaluable perspectives into driver behavior and usage patterns, leading to enhanced accuracy in risk assessment and pricing models. Companies involved in the UBI value chain are introducing disruptive technologies, such as artificial intelligence (AI) and machine learning (ML), to amplify these capabilities.
Strategic partnerships with OEMs, data analytics firms, and insurtech companies are proving essential to the successful delivery of value-added services, including UBI, to fleet managers. These collaborations are enhancing accessibility, cost-effectiveness, and the overall customer experience within fleet management. With the growing number of electric vehicles (EVs) in fleets, UBI solutions will pave the way for companies to incentivize drivers to adopt eco-friendly driving habits and introduce new business models around EVs. By joining forces, companies are fostering innovation, improving risk management practices, and driving mutual growth and success.
In the future, advanced telematics solutions are poised to gather a broad range of data points, encompassing vehicle diagnostics and driver biometrics, paving the way for highly personalized insurance offerings. In addition, advancements in dashcams and video telematics hold immense potential to streamline claims management processes and enhance overall safety by detecting driver distractions and mitigating accidents effectively, which can be a great value-add in the commercial insurance sector.
This study sheds light on UBI industry size and provides parc data for leasing, rental, and corporate-owned fleets. It offers insight into UBI's installed base in each segment of the leasing, rental, and company car parc, technology, and the associated key industry trends. Key participants involved in the UBI business in Europe that offer services to leasing and rental companies are discussed in detail along with insights based on geographic coverage.
Key Growth Opportunities:
- Technology and IP - Data-driven Platforms
- Product Development - Technology-based Products
- Competitive Strategy - Building Innovation for EVs
- Product Launch - Video Telematics for Accurate UBI Calculation
Company Profiles:
- Arval
- ALD Automotive
- Zurich Insurance
- Linear Assicurazioni (Unipol Gruppo)
- Zego
- Octo Telematics
- Targa Telematics
Key Topics Covered:
Transformation in UBI in Leasing and Rental Fleets
- The Impact of the Top 3 Strategic Imperatives on Usage-based Insurance in Leasing and Rental Fleets
Ecosystem
- Scope of Analysis
- European UBI Landscape
- Segmentation
- Segmentation Overview
- Competitive Environment
- UBI in European Fleets: A Snapshot
- Evolution of UBI in Automotive Fleets
- Telematics Ecosystem in UBI
- Vehicle Parameters Preferred for UBI
- UBI Telematics Variations
- UBI Trends in the Leasing and Rental Industries
- Key Competitors
- Ecosystem Partners
- Preferred UBI Features for Fleet Companies
Growth Generator
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Forecast Assumptions
- UBI: Segment Stakeholders
- Insurance Companies' UBI Solutions
- Telematics Companies' UBI Solutions
- UBI Business Models
- Revenue and Unit Shipment Forecast
- Revenue Forecast by Product
- Unit Shipment Forecast by Product
- Revenue Forecast by Region
- Unit Shipment Forecast by Region
- Forecast Analysis
Growth Generator: UBI in Leasing Fleets
- Growth Metrics
- Revenue and Unit Shipment Forecast
- UBI Penetration Analysis
- Unit Shipment Forecast by Region
Growth Generator: UBI in Rental Fleets
- Growth Metrics
- Revenue and Unit Shipment Forecast
- UBI Penetration Analysis
- Unit Shipment Forecast by Region
Growth Generator: UBI in Corporate-owned Fleets
- Growth Metrics
- Revenue and Unit Shipment Forecast
- UBI Penetration Analysis
- Unit Shipment Forecast by Region
Growth Generator: Geographic Analysis
- Italy
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
For more information about this report visit https://www.researchandmarkets.com/r/w4vwdd
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