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).

Committee Research Report

Final Trend Report, January 2020

Related Articles

• "Reversing skepticism, Geico launches usage-based insurance" (July 2019)
• "State Farm Moves Auto Telematics into 'Real Time'" (June 2019)
• "VOOM Raises $5M to Expand On-Demand Insurance for Episode Mobility Usage" (May 2019)
• "Usage-Based Insurance and Telematics" (May 2019)
• "The 7 Best Usage-Based Insurance Opinions of 2019" (March 2019)