Insurers are recognizing the importance of
discounts to penetrate U.S. and Canadian markets. But this calls for the
combination of product features.
Something seriously required in favor of the auto insurance
policy holders in United States of America and Canada. UBI adoption is growing
at a frenetic pace in North America according to the figures released by BI
Research. Market watchers are keenly observing the growth of auto insurance and
the factors that can pose challenges to auto insurance industry. Figures depict
a rosy picture. Telematics based auto insurance growth rose from 4.1% in 2015
to 6% in 2016 in North America. The growth is pegged at 19.2% in 2019. What is
the role of telematics expertise in expanding market reach? Can discounts
increase the subscriber base? Is there any pitfall? Let us explore.
