New policy growth, or the rate at which consumers either switched or purchased new coverage, continues to be a big story, according to LexisNexis.
Tag: auto insurance
Report on Auto Insurance Trends Offers Key Insights to Drive Profitability
The annual LexisNexis® Risk Solutions Auto Insurance Trends Report explores how trends in U.S. consumer auto insurance shopping, driving violations, claims frequency and severity, vehicle safety features and more are impacting the auto insurance policy lifecycle from quote to underwriting to claims.
State Farm Gets Biggest Bump as California Approves More Auto Rate Hikes
State Farm Mutual Automobile Insurance Co. was the biggest beneficiary of California regulators approving more personal auto rate hikes in the first quarter.
Auto Insurance Shopping Reaches New Highs as Premiums Surge: J.D. Power Finds
There’s a sharper focus on saving money as large numbers of auto insurance customers shop for new policies and switch to new carriers, largely based on price.
2022 U.S. Traffic Deaths Down: NHTSA
The National Highway Traffic Safety Administration has released its latest projections for traffic fatalities in 2022, estimating that 42,795 people died in motor vehicle traffic crashes.
Autonomous Vehicles Could Reduce Accident Frequency, Boost Insurer Profitability: Moody’s
According to a new Moody’s report, autonomous vehicles will initially boost auto insurance profitability while ultimately decreasing demand for traditional coverage – but the property/casualty insurance industry has time to evolve.
Inflation May Be Easing, But Claims Severity Pressures in P&C Are Likely to Remain: Swiss Re
According to the Swiss Re Institute, headline inflation is estimated to decline but stay elevated in 2023, to some extent alleviating upward pressure on claims compared to 2022. However, cost inflation in certain prices, such as labour and healthcare, may remain high.
Westfield Unveils MissionSafe® Safe Driving Rewards Program
Westfield introduced MissionSafe®, a new safe driving rewards program that gives eligible personal auto insurance customers feedback on their driving.
Insurance Companies Are Refusing to Cover Certain Hyundai and Kia Models
Two of America’s largest auto insurers, are refusing to write policies in certain cities for some older Hyundai and Kia models that have been deemed too easy to steal.
Auto Insurance Companies’ Rising Rates Are No Accident
Auto insurers are scrambling to keep up with rising claim costs.