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When a major ride-hailing service recorded its billionth ride last December, it became increasingly clear that this phenomenon is more than just a passing trend. What’s a bit less clear is how extensive the effects will be on the auto insurance industry — and specifically on telematics and usage-based insurance (UBI).

It’s not only ride-hailing service providers that are riding the wave. Peer-to-peer providers offering what are commonly known as car-sharing services and membership-based car rental services — neither to be confused with ride-hailing platforms that allow members to carry persons for hire — are growing in popularity as well.

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