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Usage-Based Auto Insurance Picking Up Speed

IHS Automotive predicts that 142 million customers will sign up globally for the telematics-infused policies by 2023, up from almost 12 million in 2015.

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A new industry analysis from IHS Inc.’s IHS Automotive asserts that usage-based auto insurance will explode globally in the next seven years, reported Insurance Journal.

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IHS Automotive predicts that 142 million customers will sign up globally for the telematics-infused policies by 2023, up from almost 12 million in 2015.

Usage-based auto insurance relies on a telematics system inside the vehicle that captures real-time info about how a driver fares and the road and the risks encountered along the way.

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