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UBI Market 2017 Analysis, Cases, Future Scale, Drivers, Development Trends and 2021 Forecasts
  • USA - English


News provided by

iReachCompany

Oct 16, 2017, 13:50 ET

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PUNE, India, Oct. 16, 2017 /PRNewswire-iReach/ -- Starting in China in 2012, later than in foreign countries, UBI is primarily developed by mainly referring to foreign products and mature models. Auto insurance, always the largest subsector of property insurance in China, reported original premium income of RMB683.455 billion in 2016, up 10.3% from a year earlier and accounting for 78% of property-insurance original premium income. The reform of commercial car insurance rate management system was piloted from May 2015 and the market-oriented reform of car insurance rate was staged nationwide on July 1, 2016. Also, the rapid evolution of automotive IoT (Internet of Things) gives great impetus to the automotive UBI Industry. The Chinese automotive UBI market is expected to value RMB201.8 billion in 2021 at a CAGR of 43.0%.

China's UBI models are led by the "entities + insurers" one. Entities include OEMs, connected car firms, independent service providers, and big data companies.

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·         OEMs + Insurers: OEMs usually cooperate with third parties and insurers in UBI field, represented by SAIC Motor + Cihon + CPIC. SAIC Motor and CPIC give a personalized quote for car insurance on auto models carrying OnStar according to consumers' driving habits, mileage, and other factors. Cihon is responsible for data analysis and insurance model development.

Get Discount on this Research Report at http://www.reportsnreports.com/contacts/discount.aspx?name=1209834

·         Connected Car Platforms + Insurers: Connected car platforms are dominated by Aftermarket TSP (telematics service provider) in UBI field. For example, the insurer (PICC), via Shenzhen Autonet's connected car platform, provides car owners with one-key insurance claim, quick settlement of claim, and inquiry of insurance status, and develops floating car insurance business.

·         Independent Service Providers + Insurers: Independent service providers usually acquire customer data via APP + OBD to work with insurers to develop UBI and at the same time provide customers with car maintenance and other services.

·         Big Data + Insurers: In UBI field, some insurers, on the one hand, have self-run platforms, such as Zhong An Online P&C Insurance's O2O car insurance, and on the other hand, co-develop platforms with Internet businesses or other connected car firms. For instance, CPIC organized Internet companies with Baidu and invested in Atzuche. Big data companies employ various methods in UBI field, like Beijing Jingyou Times Information Technology, a provider of database and risk models.

Direct Purchase at http://www.reportsnreports.com/purchase.aspx?name=1209834

Global and China UBI Industry Report, 2017-2021 highlights the following:

·         UBI overview (definition, pricing, value, methods of UBI data acquisition, etc.);

·         Foreign UBI markets (global; UBI in United States, Canada, UK, and Germany;

·         10 UBI companies and their products in United States, Canada, UK, Germany, and Italy);

·         UBI business in China (future scale, drivers, entities, development trends);

·         Local Chinese UBI companies (business, operation, and UBI products of China Life, PICC, Ping An Insurance, Carsmart, Zhong An Online P&C Insurance, Cihon, DiNA Technology, PingJia Technology, Shenzhen Dingran Information Technology, Shenzhen Autonet, Launch Tech, Renrenbao, MSD, Deren Electronic and Zebra-Drive)

More Inquire at http://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=1209834

Table of Contents

1 Overview of UBI

2 Global Telematics Insurance Market

3 Car Insurance and UBI Localization in China

4 UBI Cases in Europe

5 UBI Cases and Companies in North America

6 UBI-related Companies in China

List of Charts.

About Us:

ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports. Feel free to Call us at + 1 888 391 5441 or Email us at [email protected] .

Media Contact: Hrishikesh Patwardhan, ReportsnReports, + 1 888 391 5441, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE ReportsnReports

iReach LastName, iReachCompany, 111-222-3333, [email protected]

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