Emerging mobility spurs smart, connected and on-demand vehicle insurance

The insurance industry is based heavily on guesswork—how safe will a driver be over the next 12 months, in what sort of neighbourhoods will they park their car, etc. Remove that guesswork with verifiable, real-time data and it becomes possible to start rewriting the rulebook for insurance providers. The usage-based insurance (UBI) model, also known as 'pay as your drive' or 'pay how you drive', tracks mileage and/or driver behaviour to provide a more tailored payment plan. It has proven particularly popular with younger drivers ready to prove they are safer than the stereotype.