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5 predictions for the auto insurance industry in 2022

Recent developments in telematics, fair pricing, product bundling and more will move the auto-insurance industry forward.

By Robert Smithson | February 07, 2022 at 05:00 AM
One prediction: Insurance providers will increasingly leverage telematics technology to better understand who their customers are and how they are driving to more accurately price policies. (Free use image/ALM archives) One prediction: Insurance providers will increasingly leverage telematics technology to better understand who their customers are and how they are driving to more accurately price policies. (Free use image/ALM archives)

Businesses and consumers alike have had their fair share of difficulties with the ongoing pandemic. 2022 marks a hopeful new perspective for all, including the insurance industry.

Auto insurance’s challenges run deep: In the past two years, carriers have had to adjust to the rise of price comparison websites, monitor consumers’ changing driving habits (and assess whether the changes are temporary or permanent), and deal with an ever growing number of fast-moving startups that wish to change the auto insurance game.

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