PTOLEMUS
30.9.2021 08:02:11 CEST | Business Wire | Press release
Last week, Elon Musk announced Tesla’s intent to launch a UBI (Usage-Based Insurance) product in Texas, starting in October. This came after GM’s and Ford’s recent launches of telematics insurance programmes. Finally, the move towards embedded connectivity is now impacting insurance too.
In its latest research, PTOLEMUS Consulting Group has found that connected car insurance is increasingly replacing traditional car insurance, driven by the COVID pandemic but also OEMs’ own initiatives.
The Connected Auto Insurance Global Study reveals that many insurers now write over 50% of new business to connected auto insurance. Furthermore, at least 13 OEMs have launched insurance telematics products in the last two years, all of which utilise built-in connectivity.
Dr Andrew Jackson, Research Director, said: “When car usage collapsed during the COVID-19 lockdowns, policyholders demanded prices based on actual mileage. OEMs have been stepping in to the gap, and in a clear statement of intent, half of all OEM in-house UBI programmes use connected car data only, removing insurers and Telematics Service Providers (TSPs) from the equation.”
At least 17 OEMs are selling connected car services with dynamically-priced insurance already available from Ford, GM, Kia, Hyundai, Mercedes-Benz, Stellantis, Tesla, Toyota and Volkswagen. Many car manufacturers have also forged insurance partnerships (i.e. Ford with Arity, GM with American Family, Ford with Octo Telematics, PSA with AXA, Daimler with SwissRE).
Dr Jackson concluded: “It should be remembered that insurance represents typically 10-15% of a vehicle’s TCO (total cost of ownership). So the ability to reduce this would have a major positive impact on OEM’s sales, especially to fleets.”
PTOLEMUS’ landmark report analyses OEMs strategies and the challenges for insurance companies. It analyses 15 key countries and regions, across 5 continents, includes forecasts to 2030 and profiles 26 top insurers and TSPs.
A free abstract of the study can be downloaded here .
###
PTOLEMUS Consulting Group is the first strategy consulting & research firm entirely focused on connected & autonomous mobility. It assists all leading mobility stakeholders including insurance companies, vehicle manufacturers, tier-1 suppliers and Telematics Service Providers in defining and deploying their strategies.
For more information, please contact Andrew Jackson, Research Director, at insurance@ptolemus.com or visit: www.ptolemus.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20210929005843/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EIG’s MidOcean Energy Announces $120m Investment from The Arab Energy Fund as Part of Equity Raise20.5.2026 17:29:00 CEST | Press release
MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, today announced a $120 million equity investment from The Arab Energy Fund (‘’TAEF’’), a leading multilateral impact financial institution, as part of its current equity capital raise. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520063539/en/ TAEF’s investment further strengthens MidOcean’s high-quality investor base and underscores continued strong interest in the Company’s strategy to build a diversified, resilient and long-life global LNG business. There is significant further momentum from additional investors currently in documentation, and MidOcean will continue to raise capital, with a cumulative target of up to $2 billion from new investors. R. Blair Thomas, MidOcean Chairman and EIG CEO, said: “We are delighted to welcome The Arab Energy Fund as a shareholder in MidOcean. Their significant expertise
TestMu AI Expands Real Device Testing With Multi-Language Playwright Support and Advanced Audio Testing for iOS20.5.2026 17:26:00 CEST | Press release
The latest updates enable Playwright automation across Java, Python, and C#, and introduce real-time audio injection capabilities on real iOS devices TestMu AI (formerly LambdaTest), the world’s first full-stack Agentic AI Quality Engineering platform, today announced two major enhancements to its Real Device Cloud: expanded support for Playwright automation across multiple programming languages and the introduction of Audio Injection and Live Audio Input capabilities for real iOS devices. These updates address a growing need for testing modern applications that are not only cross-platform but also increasingly multimodal, involving voice, audio, and real-time user interactions. With the latest release, TestMu AI now supports running Playwright tests on real devices using Java, Python, and C# in addition to existing capabilities. This allows enterprise teams to adopt Playwright within their preferred language ecosystems without being restricted to JavaScript-based workflows. As Playwri
Nexo Championship Returns to Aberdeenshire as Nexo Expands DP World Tour Footprint20.5.2026 16:00:00 CEST | Press release
Nexo renews its Nexo Championship title partnership for the second year in 2026. The Nexo Championship, with a newly increased prize fund of $3 million, will return to Aberdeenshire on August 20-23, 2026. The tournament concludes the 2026 Closing Swing on the Race to Dubai schedule. Nexo, the premier digital assets wealth platform, and the DP World Tour have confirmed a renewed agreement that will see the Nexo Championship return to Trump International Golf Links in Aberdeenshire from August 20-23, 2026. The tournament will serve as the concluding event of the DP World Tour’s Closing Swing – the final event of the first phase of the 2026 Race to Dubai. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520684059/en/ Nexo Championship 2026 In 2025, Nexo joined the DP World Tour as its Official Digital Wealth Platform through 2027 before soon adding the title rights at the Nexo Championship. For its part, the Nexo Championship
Visa Threats Report: As Network Security Strengthens, Criminals Accelerate Shift to AI-Enabled Social Engineering20.5.2026 15:16:00 CEST | Press release
Spring 2026 Biannual Threats Report shows how strengthening payment security is pushing criminals toward AI-enabled social engineering Visa (NYSE: V), a world leader in digital payments, today released its Spring 2026 Biannual Threats Report, revealing that scams have become the fastest-growing source of consumer harm as criminals increasingly use artificial intelligence and social engineering to manipulate people into authorizing payments themselves. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520153924/en/ The report draws on intelligence from Visa’s global network and underscores a critical shift in the fraud landscape: while core payment security continues to strengthen at the network level, criminals are redirecting their efforts away from technical system compromises toward exploiting human trust. From July to December 2025, Visa identified nearly $1 billion in scam-related activity, making scams the single large
1GLOBAL Launches Verint Communications Analytics to Enhance Cloud Compliance for Financial and Regulated Industries20.5.2026 15:00:00 CEST | Press release
1GLOBAL now offers transcription with insights into mobile calls in 10 countries on Verint Communications Analytics, built specifically for financial markets and trading environmentsStreamlines the compliance investigation and mobile call monitoring process through transcription and analysisSupports transcription and translation from 30+ languages into English with near real-time processing 1GLOBAL, a pioneer in global telecommunications solutions, today announced its launch of Verint® Communications Analytics, a key offering within Verint Financial Compliance (VFC) providing mobile call transcription and analytics capabilities. Verint Communications Analytics has been designed to help financial institutions and regulated organizations accelerate productivity when monitoring voice calls (including mobile), identifying behavioral patterns, querying data intentionally by topic, risks, keywords or sentiment, identifying misuse and reducing regulatory risk. Verint Communications Analytics
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom