A Strategy Meets Action survey found that 70% of insurers are planning or instituting a telematics program, while less than 30% of carriers said they have no plans to offer usage-based insurance. The survey also found that 18 property/casualty insurers provide a usage-based program in multiple states. Last year was a "breakthrough year" for telematics, and "2013 is likely to be characterized by a rapid expansion of the number of companies offering UBI options to their customers," said Richard Welch, an author of the survey report.

Related Summaries