10 Digital Auto Trends Impacting the Future of Insurance
What’s new for cars, digitally speaking? Below are 10 new trends that may impact you personally – in the way you buy, drive and maintain your car, and professionally in the way you underwrite your auto insurance book.
- Move over cameras: here comes high-res radar. When it…
Future of Insurance: What to Do When Disaster Becomes Routine
When it comes to health coverage, most Americans agree that pre-existing conditions should never prevent a person from accessing the medical care they need. But what about other kinds of insurance coverage? What about pre-existing conditions in P&C? Admittedly, it’s a bit strange…
What Does it Take for InsurTech to Become Mainstream?
We've written a lot over the years about autonomous vehicles, and so far, hopes have been high for the most part. But this month at Forbes, Gartner Research Director Mike Ramsey noted a change: "Autonomous vehicles have plunged into the Trough of Disillusionment!"
Chalk it up to…
Amazon and Homeowners Insurance: Can it Work?
It started with books. Then it added simple convenience offerings, shipping discounts and the like. Ten years after its founding, the company took a gamble on cloud computing, staking an early claim that escalated to Internet infrastructure dominance. Within a few years, it was…
How P&C Insurance Must Adapt to a Sharing Economy
When you want a car, you've got a choice: buy or lease. At least, that's the choice you used to have. These days, people "are no longer restricted to traditional car buying and leasing methods," said Kyle Hatt at Roadshow. There's now a third option. Vehicle subscription services…
Self-Driving Car News Roundup: Insurance Rates, Declining Claims & More
So, what's happening with autonomous vehicles lately? Buckle up, because it's time for another news roundup.
Questions remain about individual insurance premiums.
According to a report by the Casualty Actuarial Society's Automated Vehicles Task Force (CAS AVTF), it's high time to…
How Four New Internet Developments May Impact the Insurance Industry
Instant comparison shopping. 24/7 service. Quotes in minutes. Just think, where would you be tomorrow if the Internet disappeared today? The truth of that point is so telling, it's a bit of a bore to remark on how thoroughly the Internet has changed the face of business. Yet, in…
Cyber War: Insurers Are Under Attack
Insurers collect a great deal of consumer data making them a prime target for cyberattacks. In fact, a report by Accenture found that insurers are hit with an average of 113 cyberattacks each year. One out of every three of those attacks results in a successful breach. With those…
Three Ways to Pay Less for Payment Processing
So, you work in home or auto insurance. And you want to make your books more profitable. It’s time for a look at payment processing: let's talk about your options for achieving a better expense ratio.
Option one: Pay less for processing
Card processing fees can really add up.…
Commercial Auto Insurance Trends: The Stats on Rising Rates & Emerging Risks
According to Risk & Insurance, on-the-road risks "are becoming more challenging to manage," especially for auto fleets. Let's take a closer look at what's brewing for rates and risks in commercial auto insurance.
- Medical costs have been charting an upward path for…
The Property Insurance Protection Gap: Reasons and Response
Population is on the rise. So are property values and severe catastrophes. As a result? The insurance protection gap is growing too. Here are the details …
Can Robots be Held Liable?
Question: when a robot hurts someone, who answers for it? Surely not the robot itself. While it's entertaining to imagine a bot getting cross-examined in court, the disincentives of the justice system probably wouldn’t motivate a bad bot to do good.
Jokes aside, the question of…