유럽과 북미의 텔레매틱스 보험 조사보고서 제6판

출판:Berg Insight 출판년월:2022년04월

Insurance Telematics in Europe and North America 6th Edition
텔레매틱스를 활용한 자동차 보험, 텔레매틱스 보험 시장을 조사하여 상세한 분석·예측 결과를 제공

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Berg Insight「유럽과 북미의 텔레매틱스 보험 제6판 – Insurance Telematics in Europe and North America 6th Edition」는 텔레매틱스를 활용한 자동차 보험, 텔레매틱스 보험 시장을 조사하여 상세한 분석·예측 결과를 제공하고 있습니다。

주요 게시물

  1. 자동차 시장
    1. 유럽 자동차 시장
    2. 북미 자동차 시장
    3. 자동차 보험
    4. 유럽 자동차 보험 시장
    5. 북미 자동차 보험 시장
  2. 텔레매틱스 보험 솔루션
    1. 텔레매틱스 보험 시장 개요
    2. 사용 기반 보험(UBI) 및 관련 개념 및 용도
    3. 텔레매틱스 보험 구조
    4. 비즈니스 모델
  3. 유럽 텔레매틱스 보험 시장
  4. 북미 텔레매틱스 보험 시장
  5. 시장 예측과 동향
    1. 시장 분석
    2. 가치 사슬 분석
    3. 시장 성장 촉진 요인 및 억제 요인
    4. 향후 업계 동향
  6. 기업 정보 및 전략

What are the latest trends on the Insurance telematics market? Berg Insight estimates that the total number of insurance telematics policies in force on the European market reached 16.2 million at the end of 2021. Growing at a compound annual growth rate of 21.5 percent, the number of active insurance telematics policies in Europe is estimated to reach 35.1 million by 2025. In North America, the total number of insurance telematics policies in force is forecasted to increase from an estimated 21.7 million policies at the end of 2021 to reach 49.0 million policies by 2025. Get up to date with the latest industry trends in this new 295-page strategy report from Berg Insight.

Highlights from the report

  • Insights from 30 new executive interviews with market leading companies.
  • Comprehensive overview of the insurance telematics value chain and key applications.
  • In-depth analysis of market trends and key developments.
  • Case studies of 67 insurance telematics initiatives.
  • Summary of the involvement of vehicle OEMs and mobile operators.
  • New data on vehicle populations in Europe and North America.
  • Market forecasts by country lasting until 2025.

Executive Summary

Europe and North America to reach 84.1 million insurance telematics policies by year-end 2025

The integration of telematics technology constitutes the latest revolution for the automotive insurance industry. The concept of telematics is a portmanteau of telecommunications – long-distance communications – and informatics – the science of information. Telematics in general thus refers to the collection of information related to remote objects such as vehicles via telecommunications networks. The introduction of telematics technology in the context of automotive insurance is commonly referred to as usage-based insurance (UBI) or insurance telematics. Solutions of this type generally enable automotive insurers to improve pricing mechanisms based on actual driving data, gain better control of claims and differentiate their offerings to current and prospective policyholders. Variants of insurance telematics which have been popularised over the years include behaviour-based pricing models such as Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Manage-How-You-Drive (MHYD).

The addressable market for insurance telematics is significant. A total of around 317 million vehicles were in use in the EU22+3 in 2019, including over 277 million passenger cars. In North America, an estimated total of around 293 million vehicles were in use in 2019, out of which passenger cars and light trucks are estimated to represent around 277 million vehicles. Some kind of basic automotive insurance is mandatory in most developed countries and there are in addition a number of subcategories of insurance that provide coverage for different types of unforeseen events involving motor vehicles. Motor gross written premiums in EU22+3 reached a total of over – 142.3 billion in 2019. The equivalent number for North America was US$ 253.2 billion (? 226.2 billion) in 2019.

The insurance telematics market is currently in a phase of strong growth which is expected to accelerate in the coming years. Europe and North America so far represent the vast majority of all insurance telematics programs and active policies from an international perspective, and the front-running national markets include the US, Italy, Canada, the UK and Germany. Berg Insight estimates that the total number of insurance telematics policies in force on the European market reached 13.1 million at the end of 2020. Growing at a compound annual growth rate of 21.7 percent, the number of insurance telematics policies in force in Europe is estimated to reach 35.1 million by 2025. In North America, the total number of insurance telematics policies in force is forecasted to increase from an estimated 16.7 million policies at the end of 2020 to reach 49.0 million policies by 2025, representing a compound annual growth rate of 24.0 percent.

In the US, the top three insurers in terms of UBI policies have all introduced smartphone-based solutions to supplement or replace the previously used OBD dongles. Several US and Canadian insurers have during the recent year re-assessed and re-launched their telematics programs. The North American insurance carriers are also exploring claims-related insurance telematics and many are adding distracted driving parameters in their UBI. The European insurance telematics market is still dominated by insurers in Italy and the UK, with an estimated 9.7 million and 1.3 million policies respectively. The market in Germany has grown considerably during 2020 and reached about 0.7 million telematics policies. Uptake on all other markets is considerably lower, with between 120,000 and 440,000 policies in Spain, France, Benelux as well as Central and Eastern Europe.

The insurance telematics value chain spans multiple industries. Insurers with notable presence in the insurance telematics market include Progressive, UnipolSai, State Farm, Allstate, Generali, Allianz, HUK-Coburg, Admiral, AXA, Liberty Mutual, Intact and Insure The Box. Insurance players can either develop telematics programs independently or rely on partners to varying degrees. Smartphone-based telematics players have taken significant market shares during the past years. Leading vendors of smartphone-based insurance telematics solutions include Cambridge Mobile Telematics and Arity. Additional vendors include Telematics Technologies, Amodo and DriveQuant. Important telematics suppliers active in the insurance field include Octo Telematics, Vodafone Automotive, Viasat Group, Targa Telematics, Redtail Telematics, IMS (Trak Global Group) and The Floow. Other players on the insurance telematics market include Modus, Baseline Telematics, LexisNexis Risk Solutions, Verisk, CCC Information Services, OSeven and Sentiance. Automotive OEMs are increasingly taking an active part in the ecosystem. Examples include General Motors, Ford, PSA Group, Honda, Renault-Nissan-Mitsubishi, Toyota, Tesla, BMW, Daimler and Hyundai.


목차

Table of Contents

Executive summary

1 The automotive market

1.1 The automotive market in Europe
1.1.1 Vehicles in use and car density
1.1.2 New car registrations and leading manufacturers
1.2 The automotive market in North America
1.2.1 Vehicles in use and car parc density
1.2.2 New car registrations and leading manufacturers
1.3 Automotive insurance
1.3.1 Basic insurance terminology and categorisations
1.3.2 The fundamentals of automotive insurance
1.3.3 Traditional automotive insurance risk rating and pricing criteria
1.3.4 Developments of the actuarial toolbox for motor insurers
1.4 The European automotive insurance market
1.5 The North American automotive insurance market

2 Insurance telematics solutions

2.1 Introduction to insurance telematics
2.1.1 The rationale for telematics-based insurance policy pricing
2.1.2 Brief history of insurance telematics offerings
2.2 Usage-based insurance and related concepts and applications
2.2.1 Manual reporting
2.2.2 Usage-based insurance telematics – PAYD, PHYD, MHYD, TBYB
2.2.3 Continuous and time-limited telematics data recording
2.2.4 Usage-based pricing vs. claims-related insurance telematics
2.2.5 Personal lines and commercial lines insurance telematics
2.2.6 Value-added services related to insurance telematics
2.3 Insurance telematics infrastructure
2.3.1 Vehicle segment
2.3.2 Insurer segment
2.3.3 End-user segment
2.3.4 Network segment
2.3.5 GNSS segment
2.4 Business models
2.4.1 In-house development
2.4.2 Leveraging telematics partners
2.4.3 Underwriting without direct client interaction

3 The European insurance telematics market

3.1 Regional market characteristics
3.1.1 Italy
3.1.2 United Kingdom
3.1.3 Iberia
3.1.4 Austria
3.1.5 France
3.1.6 Benelux
3.1.7 Switzerland
3.1.8 The Nordics
3.1.9 Germany
3.1.10 Central and Eastern Europe
3.2 Insurance telematics case studies
3.2.1 More than 40 percent of the vehicles insured by UnipolSai feature a black box
3.2.2 Generali offers a wide portfolio of insurance telematics products
3.2.3 Smartphone-only solutions – a growth engine for Allianz’s telematics offerings
3.2.4 AXA offers its insurance telematics portfolio in multiple European countries
3.2.5 Admiral Group has multiple insurance telematics programs in Europe
3.2.6 Insure The Box has sold more than 1.0 million black box-based policies
3.2.7 Direct Line Group uses a variety of sensors for gathering of telematics data
3.2.8 Aviva chooses device-based telematics in the UK
3.2.9 Ingenie targets drivers in the 17- to 44-year-old age bracket
3.2.10 IMS expands Carrot Insurance’s platform to North America
3.2.11 Marmalade targets young drivers
3.2.12 RSA offers UBI via MORE TH>N SM>RT WHEELS and 123GO
3.2.13 Be Wiser offers Drive Wiser PHYD insurance in the UK based on Coverbox
3.2.14 AbbeyAutoline (Prestige) offers ChilliDrive powered by Inzura
3.2.15 By Miles offers PAYD using aftermarket OBD devices and OEM telematics
3.2.16 CalAmp invests in the insurance marketplace
3.2.17 Stellantis’ PSA Group offers UBI in the UK, Belgium and France
3.2.18 Mercedes-Benz offers UBI in four European countries
3.2.19 HUK-Coburg relaunched Telematik Plus in 2019
3.2.20 VHV’s Telematik Garant switched to a mobile based telematics solution
3.2.21 German insurer Signal Iduna launches UBI based on a smartphone app
3.2.22 EMIL powers pay-per-mile telematics products in Germany
3.2.23 DEVK implements Dolphin Technologies in its app-based telematics offering
3.2.24 UNIQA SafeLine powered by Dolphin Technologies focuses on safety
3.2.25 Groupama offers insurance telematics in multiple countries
3.2.26 Risk has launched several insurance telematics products in the Netherlands
3.2.27 MAPFRE provides insurance telematics products in Spain and the US
3.2.28 OSA and Sparkassen Versicherung offer eCall services in Germany
3.2.29 GDV launches eCall service with 46 participating German insurers
3.2.30 Zavarovalnica Triglav brings UBI to Slovenia
3.2.31 PZU Group and Link4 offer telematics programs in Poland
3.2.32 CHERRISK rewards safe driving
3.2.33 HDI Global has launched DiamondDrive in Germany
3.2.34 Zurich invested in the UK telematics insurance provider MyPolicy in 2021
3.2.35 If Insurance has long experience of telematics in the Nordics
3.2.36 Paydrive leverages aftermarket and OEM telematics for UBI
3.2.37 VIS pioneers telematics insurance in Iceland

4 The North American insurance telematics market

4.1 Regional market characteristics
4.1.1 United States
4.1.2 Canada
4.2 Insurance telematics case studies
4.2.1 Progressive is the UBI telematics pioneer in the US
4.2.2 State Farm works with CMT to enhance the Drive Safe & Save program
4.2.3 Allstate offers Drivewise and Milewise in the US
4.2.4 Esurance offers DriveSense in 37 US states
4.2.5 Allstate’s subsidiary Arity expands its offering to external customers
4.2.6 Liberty Mutual has a broad portfolio of telematics products
4.2.7 Desjardins offers a smartphone app for insurance telematics in Canada
4.2.8 Nationwide offers UBI based on OBD, smartphone and OEM telematics data
4.2.9 Farmers offers mobile-based insurance telematics from Driveway Software
4.2.10 Travelers offers smartphone-based UBI
4.2.11 GEICO offers a smartphone-based telematics program in select US states
4.2.12 Toyota Insurance Management Solutions offers UBI in the US
4.2.13 CAA offers MyPace and Connect powered by Octo Telematics
4.2.14 Root Insurance is a smartphone-based insurance company
4.2.15 USAA enhances insurance offering by acquiring UBI focused Noblr
4.2.16 Mobileye and Munich Re collaborate in Munich Re’s Smart Mobility program
4.2.17 Progressive has launched a second commercial UBI product
4.2.18 Nationwide offers commercial lines insurance telematics solutions
4.2.19 Philadelphia Insurance Companies offers fleet insurance telematics
4.2.20 Trov offers mobility insurance solutions built on Sentiance’s platform
4.2.21 True Mileage uses NFC and works with Ohio Mutual Insurance Group
4.2.22 State Auto has a broad telematics portfolio focusing on both UBI and claims
4.2.23 Ford, Hyundai, Honda, and GM join Verisk Telematics Data Exchange
4.2.24 CMT powers multiple safe driving contests in the US
4.2.25 Intact discontinues its device-based program in favour of mobile solutions
4.2.26 Lemonade acquires Metromile
4.2.27 American Family Insurance
4.2.28 HDVI pioneers telematics UBI for fleets of semi trailer trucks
4.2.29 Tesla launches its own telematics insurance brokerage in Texas and Illinois
4.2.30 Pouch and Mojio partner to offer fleet insurance to small businesses

5 Market forecasts and trends

5.1 Market analysis
5.1.1 Insurance telematics policies and penetration in Europe and North America
5.1.2 Form factor developments in Europe and North America
5.2 Value chain analysis
5.2.1 Insurance industry players
5.2.2 Telematics industry players
5.2.3 Automotive industry players
5.2.4 Telecom industry players
5.2.5 IT industry players
5.2.6 Mergers and acquisitions in the insurance telematics space
5.3 Market drivers and barriers
5.3.1 Macroeconomic environment
5.3.2 Regulatory environment
5.3.3 Competitive environment
5.3.4 Technology environment
5.4 Future industry trends
5.4.1 Continued broadening of the insurance telematics concept is expected
5.4.2 Insurers will embrace both UBI and claims-related insurance telematics
5.4.3 Form factor shift to favour mobile devices
5.4.4 Connected cars pave the way for mass-marketisation of insurance telematics
5.4.5 New data exchanges expected to make OEM data available to small insurers
5.4.6 Fleet insurance telematics to disrupt the fleet tracking market
5.4.7 Privacy concerns are softening across customer segments
5.4.8 Big Data: Ownership and portability of telematics data to be scrutinised
5.4.9 Insurance telematics aims to reduce distracted driving
5.4.10 Mobility trends provide new opportunities for telematics-based insurance
5.4.11 Vehicle diagnostics data from connected cars can create value for insurers
5.4.12 Outlook: Insurance telematics is growing rapidly in other regions
5.4.13 Pay-per-mile insurance programs are resurging
5.4.14 Insurers to explore other IoT verticals
5.4.15 The insurance telematics concept to be applicable for more vehicle types
5.4.16 Autonomous cars alter the playing field for motor insurance
5.4.17 Automotive OEMs bet on insurance telematics

6 Company profiles and strategies

6.1 Agero
6.2 Amodo
6.3 Autoliv
6.4 Azuga
6.5 Baseline Telematics
6.6 Bosch Connected Devices and Solutions
6.7 CalAmp
6.8 Cambridge Mobile Telematics
6.9 CCC Information Services
6.10 ClearScore
6.11 Dolphin Technologies
6.12 Earnix
6.13 FairConnect (DriveQuant)
6.14 Greater Than
6.15 IMS (Trak Global Group)
6.16 Ingenie Business
6.17 Insure Telematics Solutions
6.18 Inzura
6.19 LexisNexis Risk Solutions
6.20 Meta System
6.21 Modus
6.22 Motix Connected
6.23 Munic Car Data
6.24 Octo Telematics
6.25 OSeven Telematics
6.26 Quartix
6.27 Redtail Telematics
6.28 Sentiance
6.29 Scope Technology
6.30 Swiss Re
6.31 Targa Telematics
6.32 Telematics Technologies
6.33 The Floow
6.34 Trakm8
6.35 Verisk Analytics
6.36 Viasat Group
6.37 Vodafone Automotive
6.38 Webfleet Solutions
6.39 Zendrive
Glossary

List of Figures

Figure 1.1: Vehicles in use (EU22+3 2019)…………………………..4
Figure 1.2: Passenger car density per 1,000 inhabitants (EU27+UK 2019)…………5
Figure 1.3: Passenger car registrations by manufacturer (EU27+UK+EFTA 2020) ……..6
Figure 1.4: Vehicles in use (North America 2019) ……………………….8
Figure 1.5: Passenger car registrations by manufacturer (North America 2020)………..9
Figure 1.6: Motor insurance statistics (EU23+2 2019)…………………….16
Figure 2.1: Distribution of fatal crashes by day of week and time of day (US 2019) ……20
Figure 2.2: Subcategories of usage-based insurance and insurance telematics ……..22
Figure 2.3: Schematic classification of usage-based & claims-focused insurance telematics..30
Figure 2.4: Insurance telematics infrastructure overview ……………………34
Figure 2.5: Examples of principal insurance telematics form factors………………35
Figure 2.6: Examples of feedback from Progressive’s smartphone app Snapshot……..38
Figure 2.7: Example of a windscreen-mounted Bluetooth device from CMT…………40
Figure 2.8: GDV-Stecker 12 V device provided by Bosch…………………..41
Figure 2.9: Nextbase’s Dash Cam 522 GW and Rear Window Cam module. ……….42
Figure 2.10: Schematic insurance telematics risk rating process ………………..43
Figure 2.11: Web- and smartphone-based interfaces and dashboards for end-users ……46
Figure 2.12: Telematics strategies for insurance providers……………………50
Figure 3.1: Allianz’s top telematics markets (Q4-2020)……………………79
Figure 3.2: Overview of the Your Portal interface for insurethebox policyholders ……….90
Figure 3.3: Marmalade Young Driver app and tag developed by CMT……………98
Figure 3.4: Windscreen device and app from VHV ……………………….109
Figure 3.5: User interface of Sijox’s AppDrive …………………………110
Figure 3.6: The VOOROP dashboard on a desktop and smartphone …………..116
Figure 3.7: HDI’s DiamondDrive app……………………………..123
Figure 4.1: Progressive’s Snapshot OBD-II telematics device supplied by Xirgo………135
Figure 4.2: State Farm’s Bluetooth-beacon enhanced smartphone app………….137
Figure 4.3: Growth of Allstate’s UBI offer Drivewise (2011-2020)………………139
Figure 4.4: Growth of Esurance’s UBI offer DriveSense (2011-2020)…………… 143
Figure 4.5: Travelers IntelliDrive…………………………………. 151
Figure 4.6: Mobileye Shield+ and Mobileye Connect 6 aftermarket ADAS systems…….156
Figure 5.1: Insurance telematics policies and penetration (Europe 2020-2025)………. 177
Figure 5.2: Insurance telematics policies by country (North America 2020-2025)…….179
Figure 5.3: Distribution of insurance telematics form factors (Europe 2020-2025)……180
Figure 5.4: Distribution of insurance telematics form factors (North America 2020-2025)….181
Figure 5.5: Key players in the insurance telematics value chain……………….. 182
Figure 5.6: Examples of telematics hardware providers serving the insurance space….192
Figure 5.7: M&As in the insurance telematics space (2014-2022) ……………. 206


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