Car-insurance market projection
The U.S. car-insurance market is forecast to reach about $551.96 billion by 2031, driven by telematics adoption, embedded policies at point of sale, and rising EV coverage needs reported. That trend implies new data requirements for underwriting and claims workflows as insurers ingest telematics and IoT streams.
Europe and North America recorded about 34 million insurance telematics policies in 2024, a scale that reshapes data availability for underwriting and claims. media.berginsight.com Industry surveys show telematics accounted for roughly 14.4% of personal auto policies in 2024, evidence carriers can cite when pitching new UBI product lines. finance.yahoo.com Polly’s 2024 Embedded Auto Insurance Study found four out of five car buyers want insurance offered at point of sale, supporting dealer- and OEM‑embedded distribution strategies. polly.co Cambridge Mobile Telematics’ DriveWell Crash & Claims product detects crashes in real time and, per the company, has been adopted by 18 organizations to automate FNOL and dispatch in‑network vendors. businesswire.com Federal and forensic sources show EDRs and vehicle subsystems capture time‑stamped speed, brake status, seatbelt use, steering angle and GPS coordinates that feed liability engineering and faster claim resolution. nhtsa.gov The Coalition Against Insurance Fraud estimated U.S. fraud losses at $308.6 billion annually and PwC research reported 67% of SIU teams use advanced analytics even as 83% still rely heavily on manual processes—key signals for pitching automation and data enrichment. 4warn.com EVs are driving new severity dynamics: CCC/Carrier Management reported EVs rose to 2.4% of repairable claims in H1 2024 (from 1.6% in 2023) and showed average EV repair costs nearly 47% higher than non‑EVs, underscoring demand for EV‑specific parts, labor and claims data. carriermanagement.com Major industry touchpoints for enterprise outreach include InsurTech Connect (over 9,000 attendees in 2025) and Reuters’ Connected Claims USA (Nov 6–7, 2025, 800+ claims executives), while Insurance Journal and Claims Journal run dedicated telematics/EDR coverage useful for account‑based content curation. vegas.insuretechconnect.com
