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Insurance ecosystems are helping companies transform, modernize and stay on pace with current trends.
A ticket for distracted driving can raise auto insurance rates by more than 20% and as high as 63% in some states.
Some 60% regretted the cost-cutting decision, and more than half plan to restore insurance coverage in the future.
What does the launch of GM's OnStar Insurance mean for the future of the auto insurance market and InsurTech at large?
More than 20% of survey respondents reported doing so in the past six months, according to ValuePenguin.com.
A greater aggregate number of flood-related catastrophes may compel Congress to drastically amend the National Flood Insurance Program.
DUIs were at more than two times the ratio of total violations compared with 2019, and major speeding incidents were also up, according to LexisNexis.
Digital tools will increase in importance, while extreme weather events are expected to continue, according to TransUnion.
Should more insurers consider adopting this model? Most of the insurance customers who use these devices are pleased with the results.
More than 30% of consumers are showing interest in UBI coverage as they are driving less due to the pandemic.
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