Decoding UBI for Auto Insurance
Read time: 5 mins
In the world of insurance, Usage-Based Insurance (UBI) is rapidly becoming a game-changer, particularly in the personal auto insurance sector. As IoT, AI/ML, big data analytics, and telematics technologies gain traction, data carriers are creating hyper-personalized insurance products or UBI to maintain its competitive edge. Moreover, COVID-19 has acted as a catalyst for the increased adoption of UBI. With their disposable income affected and driving habits evolving from routine to dynamic, more and more customers wanted access to flexible auto insurance premiums.
Read the white paper to know what UBI is in the context of auto insurance.