X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Roughly three out of five drivers report that they'd consent to having their insurers collect data on their driving behavior and mileage if it means lower premiums. (Photo: Stanisic Vladimir/Shutterstock.com) Roughly three out of five drivers report that they’d consent to having their insurers collect data on their driving behavior and mileage if it means lower premiums. (Photo: Stanisic Vladimir/Shutterstock.com)

More than one year into the COVID-19 pandemic, its economic impact continues to reverberate, and insurers haven’t been spared.

Faced with mounting losses, U.S. P&C insurers took a 27.5% hit to their net income after taxes in the first nine months of 2020. To shore up their bottom lines, many insurers have turned to niche product offerings such as usage-based insurance (UBI), IoT-connected policies, and on-demand insurance.

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 © 2022 ALM Global, LLC. All Rights Reserved.