This blog post has gathered some of the most common questions people have when looking for a car insurance plan. From “What is liability in relation to my car?” to “Do I have to allow ding and dents or just ticketed or totaled accidents?”, find out how you can save time by asking these questions with ANE (Automated Natural Language Exchange).
Key Challenges Affecting the Automotive Insurance Market Today
Just as the automotive industry enters into a new era, so too does the insurance marketplace. With advances in vehicle technology and advancements in car safety, the automotive insurance market is growing at an unprecedented rate. However, this growth comes with its own set of challenges for the market. Here are three of the key issues currently facing the automotive insurance market: 1) Low Premiums: While premiums have increased overall over the past few years, they have not kept up with inflation. In fact, according to Aon Hewitt analysis, general automobile premium rates decreased by 0.3% quarter-over-quarter in Q3 2017. This is largely due to increased competition brought about by low claims costs and increasing state minimum liability laws (or “no fault” laws). Trending Topics: How To Find Cheap Car Insurance Online 2) Increased Regulations: One of the biggest contributors to premium stagnation has been government regulation. Laws such as The Safety Act of 2010 (which mandates seat belt use across ALL drivers and passengers), The Driver License Compact of 1998 (mandating safety features for new vehicles), and The Crashworthiness Model Regulation (requiring enhanced safety features for vehicles made after September 15
How will this digital transformation affect the vehicle rental market?
The looming digital transformation is set to have a significant impact on the automotive industry, and the vehicle rental market in particular. The ability to book and manage travel reservations and vehicles through digital channels is set to revolutionize how people commute and travel. Meanwhile, shifting consumer preferences towards electric and autonomous vehicles is likely to drive even more changes in the auto industry. So what effects will this digital revolution have on the car rental market? Here are five ways that the vehicle rental market will be changed by digital transformation: undefined
The Role of Analytics in Allocating Insurable Assets
The Drivers of Car Insurance Market Growth
There are a few reasons for the growth of the car insurance market. The first reason is that people are driving more. Automakers have been launching new models with greater features and capabilities, which has resulted in more people choosing to purchase cars. Second, car insurance rates are increasing faster than inflation. This means that individuals and businesses are paying more for car insurance every year. Third, people are becoming increasingly aware of the dangers associated with driving. They realize that accidents can happen at any time, regardless of your safety record or driving record. While all these factors are contributing to the growth of the car insurance market, there is one main driver of this market growth – motor vehicle accidents (MVA). Statistics show that motor vehicle accidents account for a large percentage of all claims filed with insurers. In fact, MVA claims make up more than 60% of all claims filed with insurers each year. This shows just how important it is to have comprehensive car insurance coverage if you plan on driving on a regular basis. Comprehensive coverage includes coverage for damage to your car from an accident as well as any injuries you may suffer in that accident.