According to a study conducted by Market Insights Reports, the use of telematics in the insurance sector is expected to grow dramatically in the coming years.
The research firm said in its report entitled "Global Insurance Telematics Market" that the insurance telematics market, valued at 1.05 billion USD in 2017, should reach 5.83 billion USD by 2025, a rate of annual growth of 21%.
Appeared in the early 2000s, this technology is typically used in the motor insurance industry. It makes it possible to inform the insurer about the driving habits of its policyholders via, in particular, a telematic box installed in the vehicle.
This control unit records certain driving parameters such as the frequency of car use, speed, braking, etc.
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- The global insurance industry [4]