Report Description

India insurance telematics market is expected to grow at a steady rate during the forecast period. Insurance telematics is a kind of vehicle insurance where the prices rely upon the vehicle type which is calculated against distance, time, behavior and other categories. This vehicle insurance is different from traditional insurance which differentiate and reward drivers that are driving safely, thereby offering them lower premiums. The black box which is fitted in the car determines the style of driving by monitoring braking and cornering, road type on which one typically travels, and the time of driving, in order to build up a driver’s comprehensive profile.

Growing concern for safety and security among people is the key factor in fueling market growth. The telematics information is beneficial in many circumstances, such as, to communicate with the police instantaneously in case of an accident for prompt action, which is anticipated to drive the growth of India insurance telematics market in the forthcoming years. Telematics systems assist automotive companies, insurers, and drivers with the highest safety feature. The safety and security services of vehicle telematics includes the automatic crash notification, emergency, as well as the medical assistance. However, privacy concerns among consumers due to sharing of the vehicular location used to monitor an asset by using GPS and onboard diagnostics to record movements might act as a major impediment in the growth of the market through 2030..

Based on vehicle type, the insurance telematics market is bifurcated into passenger car and commercial vehicle. The passenger car segment is projected to dominate the market in the forthcoming years, which can be attributed to increasing security concerns among users. Based on type, the market is segmented into third party insurance and comprehensive insurance, of which, the former is anticipated to dominate the market over the next 5 years on account of higher levels of protection provided to all the motorized vehicles and it is good for drivers who are more likely to claim for any damage they cause when driving. Additionally, it is cheaper when compared to comprehensive insurance, thereby further contributing to the growth of this segment.

The major market players in India insurance telematics market are Bajaj Allianz, ICICI Lombard, etc.  The key players are investing more to develop new technologies in order to increase their customer bases and expand their geographic reach.

Years considered for this report:

Historical Years: 2015-2018

Base Year: 2019

Estimated Year: 2020

Forecast Period: 2021–2030

Objective of the Study:

  • To analyse and forecast the market size of India insurance telematics market.
  • To forecast India insurance telematics market based on vehicle type, type, source, premium type, device type and regional distribution.
  • To identify drivers and challenges for India insurance telematics market.
  • To identify and analyse the profile of leading players operating in the India insurance telematics market.
  • To identify dominant region or segment in India insurance telematics market

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of insurance telematics service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product types, application types and presence of all major insurance telematics service providers across the country.

TechSci Research calculated India insurance telematics market size by using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Insurance telematics providers
  • Government bodies such as regulating authorities and policy makers
  • Industry associations
  • Organizations, forums and alliances related to insurance telematics market
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product service providers and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India insurance telematics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  •  India Insurance Telematics Market, By Vehicle Type:
    • Passenger Car
    • Commercial Vehicle
  • India Insurance Telematics Market, By Type:
    • Third party Insurance
    • Comprehensive Insurance
  • India Insurance Telematics Market, By Source:
    • Insurance Agency
    • Online
  • India Insurance Telematics Market, By Premium Type:
    • Personal Insurance Premium
    • Commercial Insurance Premium
  • India Insurance Telematics Market, By Device Type:
    • Hardwired
    • On-board Device (OBD)
    • Smartphone
    • Embedded
  • India Insurance Telematics Market, By Region:
    • North
    • West
    • East
    • South

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India insurance telematics market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

India insurance telematics market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.     Product Overview

2.     Research Methodology

3.     Impact of COVID-19 on India Insurance Telematics Market

4.     Executive Summary

5.     Voice of Customer

6.     India Insurance Telematics Market Outlook

6.1.   Market Size & Forecast

6.1.1. By Value

6.2.   Market Share & Forecast

6.2.1. By Vehicle Type (Passenger Car; Commercial Vehicle)

6.2.2.  By Type (Third Party Insurance; Comprehensive Insurance)

6.2.3.  By Source (Insurance Agency; Online)

6.2.1.  By Premium Type (Personal Insurance Premium and Commercial Insurance Premium)

6.2.2. By Device Type (Hardwired; On-board Device (OBD); Smartphone; Embedded)

6.2.3.  By Region

6.2.4. By Company

6.3.   Product Market Map

7.     North India Insurance Telematics Market Outlook

7.1.   Market Size & Forecast

7.1.1. By Value  

7.2.   Market Share & Forecast

7.2.1. By Vehicle Type

7.2.2. By Type

7.2.3. By Premium Type

7.2.4. By Device Type

8.     South India Insurance Telematics Market Outlook

8.1.   Market Size & Forecast

8.1.1. By Value  

8.2.   Market Share & Forecast

8.2.1. By Vehicle Type

8.2.2. By Type

8.2.3. By Premium Type

8.2.4. By Device Type

9.     East India Insurance Telematics Market Outlook

9.1.   Market Size & Forecast

9.1.1. By Value  

9.2.   Market Share & Forecast

9.2.1. By Vehicle Type

9.2.2. By Type

9.2.3. By Premium Type

9.2.4. By Device Type

10.  West India Insurance Telematics Market Outlook

10.1.              Market Size & Forecast

10.1.1.   By Value          

10.2.              Market Share & Forecast

10.2.1.   By Vehicle Type

10.2.2.   By Type

10.2.3.   By Premium Type

10.2.4.   By Device Type

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

13.  Policy & Regulatory Landscape

13.1.              Motor Vehicles (Amendment) Bill, 2019

13.2.              Motor Vehicle Act 1988

13.3.              Motor Vehicle Act 1939

14.  India Economic Profile

15.  Competitive Landscape

15.1.              Competition Outlook

15.2.              Company Profiles

15.2.1.   Bajaj Allianz

15.2.2.   ICICI Lombard

16.  Strategic Recommendations

 (Note: The companies list can be customized based on the client requirements)

Figures and Tables

Frequently asked questions






Srishti Verma

Business Consultant
Press Release

India Insurance Telematics Market to Grow at Steady Rate During Forecast Period

Sep, 2019

Increasing concern for safety and security and fuel-efficiency to boost growth of India insurance telematics market during forecast period