PCIT PLUSNews and Updates in the Property & Casualty Insurance Industry – A KMG Initiative

car

WILL SELF-DRIVING CARS MOVE AUTO INSURERS AWAY?

Automobile manufacturers are taking significant steps towards developing autonomous vehicles. This might see a gigantic decrease in the number of accidents, giving rise to the big question — do we actually need auto insurance if cars are no longer involved in crashes?

12_Telematics-Vehicle-Driven-Data

TELEMATICS – DRIVING GROWTH IN AUTO INSURANCE

With the arrival of mobile telematics technology, the auto insurance industry is going through a transformation. Data-driven intelligence is working wonders — customers are no longer being judged on their age or gender.

Driverless car

What Driverless Car Tech Means For Filing A Car Insurance Claim – Affordable Insurance Group

Tesla manufactures driverless vehicles. These cars operate with advanced autonomous technology, which allows them to navigate on their own. No driver is necessary.

Auto insurance

What is Covered under your Auto Insurance Policy?

If you own a car, you have to protect your vehicle through an auto insurance policy. Generally, people buy a policy without giving much thought to what is covered, what is required and what they need. Like every other product, it’s important to make an informed decision before making the final purchase.

Self-driving Cars

The Insurance Impact of Self-driving Cars and Shared Mobility – Tech Crunch

“We’re going to see more change in the next five to 10 years than we’ve seen in the last 50,” said Mary Barra, CEO of General Motors, on record. While that statement is now a year old, it continues to ring true. Vehicle ownership is changing and self-driving cars will be implemented in the next decade. What will affect the insurance industry more: self-driving cars or shared mobility?

Social Media Sharing

Can Insurance Premiums be Affected for Active Social Media Shares?

Recently a leading British Insurer, Admiral Insurance, announced that it would assess the behavior of auto insurance clients based on their posts on social media. Although a lot of companies use search history to recommend products to customers, not many are using tweets & posts to assess personalities for tweaking products. This scrutiny on personal data might start a discussion about privacy but eventually, organizations would analyze personal data to customize products for individual clients.