Forecasted telematics insurance market size in Japan FY 2023-2026
For the fiscal year 2023, the telematics insurance market in Japan was forecast to reach 262.2 billion Japanese yen. The market was projected to increase to 473.4 billion yen 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.