MLchartDataset catalogue

Usage-based insurance (UBI)

Term · Insurance and risk management · MLC-T-INS-003447

A type of auto insurance that calculates premiums based on actual driving behavior rather than traditional demographic factors. Telematics devices or smartphone apps collect data on mileage, speed, braking, and time of day driven. This data is then used to personalize the insurance rate, with safer drivers often receiving lower premiums.

Table 1. Record
IdentifierMLC-T-INS-003447
FieldInsurance and risk management
SubjectPersonal Lines
AbbreviationUBI
Record as JSON 
{
  "id": "MLC-T-INS-003447",
  "term": "Usage-based insurance (UBI)",
  "field": "Insurance and risk management",
  "definition": "A type of auto insurance that calculates premiums based on actual driving behavior rather than traditional demographic factors. Telematics devices or smartphone apps collect data on mileage, speed, braking, and time of day driven. This data is then used to personalize the insurance rate, with safer drivers often receiving lower premiums.",
  "abbreviation": "UBI",
  "subject": "Personal Lines",
  "url": "https://mlchart.com/terminology/insurance/usage-based-insurance-ubi/"
}

Record 3,523 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.