Usage-Based Insurance

Usage-based insurance (UBI) is a term that refers to insurance which is offered and priced based on an insured’s actual use behaviors. It can encompass a variety of activities, from telematics-based solutions which adjust pricing based on distance, duration, and/or behavior of the insured to episodic-based solutions where insureds have coverage only for very discrete periods of time (i.e. a policy covering a ten minute scooter trip).

Heat Map Results

Probability       Severity        Time Frame 
MONITORING   MONITORING   MONITORING

Committee Research Report

Usage-Based Insurance Report Summary
Final Trend Report, January 2020

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