Insurance

In other news: Breeze's new hire; Guidewire acquires HazardHub; New York Life partners with Empathy.

The decline is likely because of a lack of proactive support and personalized attention, according to a J.D. Power study.

To date, just one insurer has promised to take “significant action” in this regard, according to analysts at Societe Generale SA. Australia’s Suncorp was the first to announce it would no longer provide coverage for all new oil and gas production projects.

Luis Pino began to see the pain points in insurance industry operations. He believed that agencies needed better technology. Pino used that idea to launch Agentero, a digital insurance network.

Allowing FDI in LIC would permit so-called strategic investors such as massive pension funds or insurance firms to participate in the initial public offering, which is slated to be India’s largest ever.

Consumers still trust established traditional insurance companies over newer insurtech startups. A majority of respondents said they would prefer to buy a policy from companies like AIG over startups like Lemonade.

Future automobiles will likely need to include passive technology to monitor for driving under the influence and automatic emergency braking.

Over half or 62%, of insurers, say they will invest in risk management over the next year, with 55% saying they’ll invest in customer and employee data protection, according to the FIS’ 2021 Readiness Report.

NHTSA, which announced the Tesla probe Monday, opened 26 probes into various auto and highway safety issues so far this year -- more than in all of 2020 or 2019, according to its website.

The insurance enables motorcyclists to customize their insurance all year round and pay for the time they ride instead of high predetermined rates.