Usage-based insurance

Merger between public insurtechs a first in industry.

The launch of its digital First Notice of Loss is one of the many steps the company is taking to expand its digital channels.

The industry will increasingly harness data to meet the growing expectations and demands of switched-on consumers.

Hippo expands to Massachusetts; Jet Insurance offers pay-as-you-go surety bonds.

The new DriveWell Messaging platform provides automated customer engagement to improve driver retention and roadway safety.

Participation in UBI programs has doubled since 2016, the market research firm says.

Also: Corelogic, Hiscox, Nirvana, Cambridge Mobile

The Personal Lines Insurance Shopping Report suggests consumers are overcoming fears of surveillance to reduce premiums.

Digital Labs bridges two worlds – marketing strategy and product development.

The 2022 LexisNexis U.S. Auto Insurance Trends Report reveals data concerns but general optimism around the future of telematics.

Only 24 states have such laws in place but there is legislation in the works in 21 others.

Keynova Group released its Q1 2022 Mobile Insurance Scorecard, which evaluates the mobile website and mobile app offerings from the 12 largest U.S. property and casualty firms.

Partnerships between automakers and insurance carriers have existed for decades, but more recent deals offer customers insurance options at the point of sale using telematics data capabilities built into connected-car platforms.

Some consumers don’t seem to be crying out for usage-based insurance and evidence shows some of the models in use are only mildly predictive at best. Why is that? Why is it that auto insurance companies have not found a way to significantly improve on the traditional metrics of age, zip code and the like despite all the technological advances of the last few decades?

Allstate and John Hancock recently announced a partnership to reward John Hancock Vitality members with points if the policyholder is also a safe driver with the Allstate Drivewise program. The alliance is the first of its kind and could be an indicator of where the insurance industry may be going.

The unique partnership comes amid an increase in vehicle crash-related deaths and a desire to help customers understand how their choices could potentially support their overall health.

Travelers IntelliDrivePlus allows customers more opportunity to increase their usage-based discount at a time when prices are going up.

According to a Breeze survey, 55% of consumers would be interested in buying a hypothetical insurance product from Amazon that used data analytics to determine policy pricing, over a legacy carrier.

Auto insurers can leverage critical mobility risk insights like distracted driving, hard turns, and more, turning them into effective personalized marketing campaigns.

Based on more than 700 billion miles of historical driving data, most recently from more than 32 million active mobile telematics connections and more than a decade of data directly from cars, we’ve predicted three major trends to keep an eye out for as we head into 2022 and beyond.