North America is anticipated to be the leading region for UBI adoption, driven by a high rate of UBI in new and on-road vehicles equipped with telematics units. On top of this, many companies are offering hardware to enable UBI insurance plans. (Credit: metamorworks/Shutterstock.com) North America is anticipated to be the leading region for UBI adoption, driven by a high rate of UBI in new and on-road vehicles equipped with telematics units. On top of this, many companies are offering hardware to enable UBI insurance plans. (Credit: metamorworks/Shutterstock.com)

By 2026, the global usage-based insurance (UBI) market is anticipated to increase 27.7%, compounded annually, reaching a projected value of $66.8 billion, according to MarketsandMarkets Research Pvt. Ltd.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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