X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Auto insurers that partner with original equipment manufacturers (OEMs) will likely have to pick up the tab and bear the financial burden of the insurance policies. (Photo: Paul Sancya/AP Photo)

The recent announcement of General Motors’ (GM) return to auto insurance with the launch of its usage-based insurance program, OnStar Insurance (delivered with American Family Insurance), didn’t come as a surprise in most circles. Back in 2007, GM discontinued a venture into auto insurance due to the financial climate — the Great Recession — and doubts of whether auto insurance customers would actually purchase coverage from original equipment manufacturers (OEMs).

However, following the COVID-19 pandemic, auto insurance customers are showing increasing interest in getting products and services that fit their needs such as pay-per-mile and pay-as-you-drive, giving GM, as well as Tesla, Ford and Lincoln, the confidence to give auto insurance another stab.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.