[June 28, 2016] |
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Octo, LexisNexis and Scope are the Big Winners of the 2016 Usage-Based Insurance Supplier Rankings
PTOLEMUS Consulting Group has announced the most comprehensive
global ranking of usage-based insurance (UBI) providers and suppliers
available. A total of 24 companies have been assessed across 15
categories.
The results show that Meta System is still the uncontested leader
of the UBI black box market while Danlaw retains its leadership
of the North American OBD dongle market.
In the service provision market, Octo Telematics has reaffirmed
its global leadership with big wins in the US, where is it now a
dominant player. LexisNexis (News - Alert) maintains its position in Europe
through its Wunelli brand, whilst growing in the US and making
steps in smartphone-based UBI. Finally, Scope has become a
significant player in the emerging Asian market.
A new category of smartphone-only UBI providers sees Cambridge Mobile
Telematics become a dominant force globally.
The UBI Supplier Rankings were calculated using data and insight from
the UBI Global Study, launched earlier this year. The industry reference
document comes with a Global
Supplier and Markets Handbook, profiling the strengths and
weaknesses of 38 telematics service providers, 14 technology providers
and 16 mobile UBI service providers.
The rankings were built using a large variety of market-specific
criteria across each distinct supplier category. The list of criteria is
detailed in the ranking presentation, available here.
Developments leading to a successful ranking include:
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Wireless operators consolidating their position in telematics, notably Verizon (News - Alert)
and Vodafone,
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New models allowing smaller TSPs such as IMS, TomTom, Baseline
and Modus to shine,
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Innovation in hardware models helping local manufacturers to grow,
e.g. Redtail, Chainway and Trak Global,
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Rapid developments in smartphone-based UBI generating a host of new
providers, including The Floow and Infrasure.
Thomas Hallauer, Research Director at PTOLEMUS commented: "The current
market evolution confirms PTOLEMUS' prediction of a growing diversity of
devices used to collect driving and accident data, which creates
opportunities, notably in the nascent smartphone UBI market."
Download
the full rankings presentation here.
About PTOLEMUS Consulting Group PTOLEMUS is the first
strategy consulting firm entirely focused on connected vehicle services
and the Internet of Things. It assists leading insurers, car makers and
service providers in defining and executing their strategies and the
end-to-end development of their telematics programmes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160628005773/en/
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