With the New Year upon us, PC360-NU spoke with top brokerages, carrier executives, agency associations and Main Street agents in local markets to discover where the greatest challenges and opportunities lie in 2013.
On the heels of a Consumer Federation of America report charging that auto insurers put too much weight on non-driving rating factors, the Insurance Information Institute released figures showing that insurers use of a wide range of rating factors has held down consumers expenditures on auto insurance.
It would seem as though the Personal Auto insurance industry has shifted into overdrive as large insurance companies like Progressive, State Farm and Allstate are aggressively promoting their telematics programs and associated discounts to attract the best risks. Many of these large carriers have been developing their telematics (or pay-as-you-drive)...
It can seem as if the auto insurance industry has shifted into overdrive, as large insurance companies like Progressive, State Farm, and Allstate are aggressively promoting their telematics programs and associated discounts to attract the best risks. Many of these large carriers have been developing their telematicsor pay-as-you-drive programsfor years....
It can seem as if the auto insurance industry has shifted into overdrive, as large insurance companies like Progressive, State Farm, and Allstate are aggressively promoting their telematics programs and associated discounts to attract the best risks. Many of these large carriers have been developing their telematicsor pay-as-you-drive programsfor years....
Exigen Insurance Solutions and The Evogi Group announced at ACORD LOMA Insurance Systems Forum a partnership to offer complete usage-based insurance and pay-as-you-drive platforms to insurers.
Some insurers, in their never-ending effort to more accurately measure risk, have found drivers can help—and in the process, maybe save themselves a few bucks. A relatively new “telematics” tool is becoming more and more common in the automobile-insurance underwriting realm: pay-as-you-drive, or usage-based programs.