James River Group Holdings Ltd. announced it delivered a notice of early cancellation of all insurance policies issued to Rasier LLC, its largest customer. Rasier is an affiliate of Uber Technologies Inc. James River said the policies will be canceled as of Dec. 31. “This account has not met our expectations for profitability, and we… Continue reading James River Group to Cancel Auto Insurance for Uber Affiliate Rasier
Tag: auto insurance
Nationwide Introduces New Digital Insurance Platform with Auto Coverage as Initial Product
For millennials, a smart phone isn’t just about staying in touch. It’s about making life easier because everything can be done in the palm of your hand – shopping whenever you want, booking dinner reservations, searching for jobs and even making friends jealous with the perfect Instagram post. With the demands of busy life, the… Continue reading Nationwide Introduces New Digital Insurance Platform with Auto Coverage as Initial Product
Study: Millennials Pay More for Auto Insurance than Any Other Generation
A recent study commissioned by Reviews.com has found that millennials pay more for auto insurance than drivers of any other generation. The study analyzed 55 million sample rates spread across 34,000 ZIP codes in all 50 states and found that, on average, millennials pay $1,753 annually compared to the $1,395 paid annually by drivers of… Continue reading Study: Millennials Pay More for Auto Insurance than Any Other Generation
CA Commissioner Lara Sees “Disturbing” Disparities in Auto Insurance Discounts for Millions of Drivers
The California Department of Insurance has released data showing wide socioeconomic disparities in auto insurance group discounts offered to millions of state drivers. The investigation illustrates that many affinity groups disproportionately and adversely affect drivers residing in ZIP codes with lower per capita incomes, lower levels of educational attainment, and larger communities of color. Some… Continue reading CA Commissioner Lara Sees “Disturbing” Disparities in Auto Insurance Discounts for Millions of Drivers
Travelers Institute Launches Every Second Matters℠ Fall Tour to Combat Distracted Driving
The Travelers Institute, the public policy division of The Travelers Companies, Inc., launched its Every Second Matters fall event series on Thursday at California State University, Fullerton. The series aims to raise awareness about the risks and consequences of distracted driving and empower young people, their broader communities and businesses to combat this dangerous behavior.… Continue reading Travelers Institute Launches Every Second Matters℠ Fall Tour to Combat Distracted Driving
Root Insurance Raises $350M in Series E Funding, Led by Coatue and DST Global
Root Insurance, the largest property casualty InsurTech in the country, announced today $350 million in Series E funding. Root has now raised a total of $523 million in funding, with an additional $100 million in debt financing. This latest round, led by DST Global and Coatue, raises Root’s valuation to $3.65 billion and provides additional… Continue reading Root Insurance Raises $350M in Series E Funding, Led by Coatue and DST Global
Tesla’s Use of Individual Driver Data for Insurance ‘State-by-State Proposition’
Tesla Inc’s use of individual customer data, such as vehicle camera footage and GPS, to price its new insurance products will depend on drivers’ authorization and individual U.S. state laws, a senior company executive said on Wednesday. Tesla Inc’s use of individual customer data, such as vehicle camera footage and GPS, to price its new… Continue reading Tesla’s Use of Individual Driver Data for Insurance ‘State-by-State Proposition’
Tesla Launches Car Insurance Offering in California
Tesla announced the launch its own insurance business called Tesla Insurance in California with a promise that it can provide Tesla owners with rates up to 30% lower than other insurance companies. The electric vehicle maker said the pricing reflects Tesla’s intimate knowledge of its own vehicles as well as the vehicle’s active safety and… Continue reading Tesla Launches Car Insurance Offering in California
Auto-Insurance Startup Root Rides Growth to $3.65 Billion Valuation
Auto-insurance startup Root Insurance Co. is completing a new round of capital raising that would value the company at $3.65 billion, a person familiar with the situation said. New investors DST Global and Coatue Management are leading the investment of $350 million, with all the company’s existing backers also planning to participate, the person said.… Continue reading Auto-Insurance Startup Root Rides Growth to $3.65 Billion Valuation
Geico Joins Rival Insurers in Tracking Drivers
Warren Buffett’s Geico now wants to track drivers, just like some of its biggest competitors do. Geico has launched a telematics offering, called DriveEasy, in certain states, Credit Suisse Group AG analyst Mike Zaremski said in a research note last week. A phone app tracks driving habits and gives individuals a score and tips, according… Continue reading Geico Joins Rival Insurers in Tracking Drivers