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Strategic Analysis of North American Market for Telematics-Enabled
Usage-Based Insurance

Description:    This Frost & Sullivan research service titled Strategic Analysis of North American Market for
                Telematics-enabled Usage-based Insurance analyses the dynamics and trends of the market and
                projects the outlook for the market and the opportunities it offers to the different members of the
                value chain. The study covers the light passenger vehicle market. In this research, Frost &
                Sullivan's expert analysts thoroughly examine the following markets: passenger cars and
                commercial vehicles.

                Market Overview

                Drivers Clocking Low Miles to Benefit from the North American Telematics-enabled Usage-based
                Insurance Market

                Auto insurance companies collaborate with system suppliers and telematics service providers to
                offer usage-based insurance (UBI) which is also referred as ‘pay as you drive’ (PAYD) insurance.
                This growing telematics service is already being offered in California after new regulations were
                passed recently. UBI takes into account the various parameters such as miles driven, time of the
                day driven, driver's acceleration and braking patterns by the insured within a particular time frame.

                While drivers clocking high-mileage end up paying a higher premium than the charges in
                conventional insurance models, those with fewer miles and in the low-income groups will benefit
                from the value-added telematics-based services that can be made available on a single platform.
                Yet, customers are apprehensive about switching to UBI due to privacy infringement issues.
                “Tracking one’s daily movements for a savings of 30 percent on the premium cannot find favor with
                customers, who regard privacy as extremely important,” observes the analyst of this research
                service. “Insurance companies face a potential restraint as the system’s basic principle is to keep
                track of its customers through a global positioning system (GPS).”

                The new regulations in California have banned the use of location data for most purposes. However,
                they also clarify that insurers and motor clubs are not prohibited from offering optional devices to
                drivers, as they will help identify the location of the vehicle for providing emergency road, theft,
                map, or travel assistance services and could be used by State Governments to access all accident
                data. The current market is controlled and driven by insurance companies that lease services to a
                telematics service provider (TSP), who, in turn, act as the solutions provider to the insured on a
                contractual basis. Instead of managing the complex value chain with individual suppliers, the
                insurance companies should collaborate with end-to-end telematics providers. Telematics providers
                can provide service and data to different participants in the value chain. Telematics solutions can
                be leased rather than sold, as the insured is not likely to bear the costs of the same.

                Another possible reason for the slow uptake of UBI is the lack of customized solutions that offer
                bundled services, as insurance companies depend on the introduction and growth of bundled
                telematics-based solutions. In order to increase the activation rates of UBI, insurers must form
                partnerships with system suppliers who develop an open telematics platform, enabling multiple
                services in a single solution. Government authorities can implement legislations mandating the
                provision of additional telematics services along with UBI, which could alter the current scenario by
                changing consumer perception and acceptance. This move would provide the information and
                customer feedback necessary for select UBI models. “Creating value for users can help customize
                and deliver a unique, compelling, and defendable service proposition,” says the analyst. “Offering
                customized tariff options for different customer segments based on an effective risk analysis can
                assist mass market introduction of UBI.” Insurance companies should also increase focus on the
                commercial vehicle market. Driver training and risk management holds the key for fleet companies,
                where cost cutting through reduced premium is expected to improve their revenue potential.

                Market Sectors
            Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:

            - Passenger cars
            - Commercial vehicles

            Technologies

            The following technologies are covered in this research:

            - Remote diagnostics
            - Emergency call
            - Navigation



Contents:   1. Scope, Definitions and Research Methodology

            2. Geographic Definitions and Research Timeline

            3. Partial List of Industry Participants

            4. Usage Based Insurance and Stakeholder Definition

            5. Executive Summary
            - 5.1 Overview
            - 5.2 Product Life Cycle Analysis
            - 5.3 World Market Overview of Usage-based Insurance
            - 5.4 Industry Challenges
            - 5.5 Insurer and Telematics Service Provider Competitive Landscape –An Overview
            - 5.6 Key Conclusions

            6. Overview of Key Market Trends
            - 6.1 PESTLE Analysis
            - 6.2 Legislation Trends
            - 6.3 Key Highlights of California’s Approval of Pay-As-You-Drive Regulations
            - 6.4 Application Trends
            - 6.5 Trends towards Convergence
            - 6.6 Open Telematics –A Path to Integrating Multiple Services on Single Platform
            - 6.7 Advantage through Telematics
            - 6.8 Value Proposition to Insurance and Leasing Channels
            - 6.9 Industry Challenges
            - 6.10 Market Drivers and restraints

            7. Market for UBI North America
            - 7.1 Scenario Analysis -Key Assumptions
            - 7.2 Year-on-year Activations for UBI in the United States
            - 7.3 Installed Based for UBI in the United States
            - 7.4 Pricing Analysis of Telematics Solution for UBI
            - 7.5 Benefit and Drawback
            - 7.6 Current Value Chain
            - 7.7 Expected Future Value Chain

            8. UBI Models by Various Insurers and Profiles of Telematics Service Providers
            - 8.1 Market Share of Insurance Companies for UBI in North America –An Overview
            - 8.2 Insurance Company Involvement
            - 8.3 Snapshot from Progressive in the United States
            - 8.4 The Low-mileage Discount Program from GMAC in the United States
            - 8.5 Drive Safe and Save from State Farm in the United States
            - 8.6 Competitive Landscape of OnStar in North America
            - 8.7 Competitive Landscape of ATX/Cross Country Automotive Services in North America
            - 8.8 Competitive Landscape of Hughes Telematics in North America
            - 8.9 Competitive Landscape of Progressive Insurance in North America
            - 8.10 Competitive Landscape of Octo Telematics in North America
            - 8.11 TSP Benchmarking
            9. Key Conclusions and Recommendations for Passenger Car UBI
            - 9.1 Key Conclusions
            - 9.2 Strategic Recommendations for Insurance companies
            - 9.3 Strategic Recommendations Telematics Service Provider
            - 9.4 Strategic Recommendations for Suppliers and Other Market Participants

            10. A UBI Perspective for Commercial Vehicle Market
            - 10.1 Overview of UBI for Commercial Vehicle Market
            - 10.2 Market Drivers and Restraints
            - 10.3 Insurer Perspective for Commercial Vehicles
            - 10.4 Why Driver training is Essential
            - 10.5 Industry Challenges
            - 10.6 Realization Factors to be Addressed
            - 10.7 ROI Analysis for Commercial Vehicle
            - 10.8 Commercial Vehicle Value Chain
            - 10.9 Overview of Green Road Services
            - 10.10 Commercial Vehicle Case Study
            - 10.11 Key Conclusions

            11. Appendix
            - 11.1 Acronyms



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