- In March 2025, Progressive Corporation launched Snapshot Pro, a UBI program tailored for small and medium-sized commercial fleets in Asia Pacific. This program leverages telematics to monitor driving behaviors such as speed, braking patterns, and idle times. Fleet operators receive real-time feedback and potential premium discounts based on driving performance. Snapshot Pro aims to enhance safety, reduce operational costs, and provide more personalized insurance solutions for commercial vehicle operators.
- In March 2025, Munich Re, through its primary insurance arm Ergo, announced the acquisition of the remaining 71% stake in Next Insurance, valuing the U.S.-based digital insurer at USD 2.6 billion. Next Insurance specializes in providing tailored insurance solutions for small businesses, utilizing data analytics and digital platforms. This acquisition strengthens Munich Re's presence in the U.S. market and underscores the growing importance of digital and usage-based insurance models in the small business sector.
- In February 2025, Inmarsat, a global satellite communication provider, entered into a strategic partnership with Petrofac, a leading oilfield services company, to deliver advanced communication solutions for remote oilfield operations. The collaboration focuses on deploying Inmarsat's Global Xpress (GX) network to enable high-speed, secure communications in offshore and onshore oilfields. This partnership aims to improve real-time collaboration, asset management, and operational efficiency for Petrofac’s oil and gas projects.
- In April 2025, Octo Telematics announced significant enhancements to its UBI analytics platform, incorporating advanced machine learning algorithms to better assess driver behavior and risk profiles. The updated platform offers insurers more accurate risk assessments, enabling more personalized premium pricing. These innovations aim to improve customer engagement and retention by providing drivers with detailed feedback and incentives for safe driving habits.
- In May 2025, Hub International, a leading insurance brokerage, secured a USD 1.6 billion minority investment, elevating its valuation to USD 29 billion. This capital infusion is intended to support Hub's strategic acquisitions and expansion into emerging insurance markets, including usage based insurance. The investment reflects growing investor confidence in the scalability and profitability of UBI models within the broader insurance industry.
