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E.g., 2020-04-01
September 19, 2016
Over the past 18 months, U.S. auto insurers have expressed renewed interest in usage-based insurance as consumers become more comfortable with the concept. Some U.S. insurers are seeing growing uptake for their telematics insurance programs. Over 30% of new customers are now opting for usage-based insurance at Nationwide and Progressive, for instance. The maturation of smartphones as telematics...
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September 15, 2016
There is no shortage of speculation about how personal auto insurance may become obsolete in a driverless era, how auto manufacturers’ product liability may compete with personal auto insurance, and how ridesharing may replace personal car ownership and vaporize the need for personal auto insurance. Those topics make good cocktail conversations, but they have little practicality for insurers...
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March 16, 2016
Smart-home technologies are rapidly becoming mainstream, and insurers have an opportunity to participate in this market. When engaging with potential partners, even the largest insurers should have a realistic appreciation of their level of influence over consumers, and therefore what they can bring to the table for smart-home device-makers, installers, and distributors. In conversations with...
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February 1, 2016
Many large personal U.S. auto insurers made time in 2015 to refresh their policies and address the issue of ridesharing by offering ridesharing endorsements. Rolling those endorsements out nationwide and getting more insurers to offer them is still a work in progress, and insurers need to consider three pitfalls. Lack of data: Most endorsements have no telematics strings attached. Insurers...
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