USAGE BASED INSURANCE EXPLOSION
If your company is waiting for the UBI market to evolve, you might want to read some of the latest research.
According to Telematics/Usage-Based Insurance: A Catalyst for Change, a report from research company Strategy Meets Action:
- 70% of North American property and casualty insurers are engaged in some stage of usage-based insurance.
- SMA notes that most of the 10 largest private passenger auto writers have UBI programs, but that they are not heavily promoted and most are available in just a few states.
- 8 of the top 10 US companies now have UBI programs or pilots underway.
- One in five insurance company professionals predict UBI will capture more than 50% of the personal auto insurance market in the next five years.
- Finally, Frost & Sullivan estimates the U.S. market will have one million activations by 2017. Frost & Sullivan forecasts annual growth of the UBI market to be 36% per year.
SPRINT UBI NEWS & PRESS
Sprint’s excellence in Usage Based Insurance is featured in the press regularly.
Sprint is a global company serving over 56 million customers worldwide. We have been recognized for overall customer satisfaction and the Sprint brand has a brand recognition rate of 97%.
Sprint was ranked #1 in customer satisfaction across 47 different industries---and Sprint is the only customer to ever go from last place to first place in just 4 years. (American Customer Satisfaction Index – May 2012)
Sprint ranked high in “The Customer Experience Index 2012” by Forrester Research.