Research shows that 63% of U.S. consumers are open to changing their current auto insurance policy for one with a telematics-based premium, according to a new report jointly published by Cambridge Mobile Telematics. U.S. drivers are open to many different insurance value propositions - including upfront discounts, rewards, and discounts at the time of renewal - and a majority are ready to switch to UBI now. Young, city-dwelling drivers are the most likely candidates (at 58%)

Pay As You Drive Insurance in simple words is a motor insurance scheme or an offering by insurance companies in which a telematics box or GPS tracking device is fitted to your vehicle with which they are able to track the vehicle and record driver behavior, ultimately scoring the drivers based on the same. Now, once the insurance companies have this data, they simply fine tune their insurance premium,the best and less risky drivers get lower premium payouts and the more risky