Historically, the European insurance telematics market existed mainly in countries plagued with insurance fraud, car theft and high insurance costs. But experts say all that is about to change. In the first of a two-part series, Brendan McNally reports on what is expected to happen.
With all the talk recently generated by the entry of usage-based insurance (UBI) products into the U.S. and Canadian auto insurance markets, it’s easy to lose sight of the fact that the biggest UBI market is, in fact, Europe, and that the market is about to get a lot bigger.
Industry insight: Insurance telematics
Insurance Telematics Europe 2014