Newark, April 08, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 30 billion in 2023 global usage-based insurance market will reach USD 219.13 billion in 2033. Telematics technology is used by Usage-Based Insurance (UBI) to track individual driving habits. This method uses real-time data collected from vehicles to determine the parameters for auto insurance. A lot of information, including speed, distance travelled, braking habits, and time of day, is tracked by telematic devices or smartphone apps.
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Insurance companies can customize rates to a driver’s real driving behaviour by using telematics and […]
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