Investment management company sees opportunities for manufacturers in $179 billion personal auto insurance market.
Conning, the investment management firm serving the insurance industry, says in a new report that embedded insurance, through which insurance products are distributed by non-insurance brands, could make significant inroads into both personal lines and small commercial insurance business, exceeding $70 billion in premium by 2030.
According to the report, the $179 billion personal auto insurance market could be ripe for disruption if manufacturers were to bring insurance in-house, as Tesla, Toyota, General Motors and some other vehicle manufacturers are doing.
According to Conning,
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