Forecasted telematics insurance subscription rate in Japan FY 2023-2026
For the fiscal year 2023, the subscription rate of telematics insurance in Japan was forecast to reach eight percent. Figures were projected to expand to 14.2 percent in fiscal 2026.
Telematics insurance refers to the use of telematics technology to monitor driving behavior of automobile insurance policyholders. Based on the data gathered, non-life insurance companies can individually adjust car insurance rates or offer additional services such as safe driving advice.