Groups urge other auto insurers to do the same. The Consumer Federation of America (CFA) and the Center for Economic Justice (CEJ) applauded insurers Allstate and American Family Insurance for promising premium relief to policyholders totaling $800 million. This reflects a sharp drop in auto insurance claims resulting from far fewer miles driven as millions […]
Majority of Top 10 Largest Auto Insurers Grew Market Share During 2019 in the U.S.
The overall market share of 10 largest private passenger auto insurers in the U.S. increased compared to 2018. The 10 largest private passenger automobile insurers saw their market share increase in 2019, after a slight decline in 2018 compared to the previous year. The top 10 insurers accounted for almost three out of every four […]
Consumer Groups Call on Regulators to Direct Auto Insurers to Offer Premium Relief Due to Lower Claims Costs Following COVID-19 Restrictions
State insurance regulators should direct insurance companies to offer customers premium offset payments to reflect the immediate reduction in expected insurance claims as a result of COVID-19 restrictions keeping drivers off the road, the Consumer Federation of America (CFA) and the Center for Economic Justice (CEJ) wrote in a letter to Commissioners on March 18. […]
Noblr Auto Insurance Launches in Ohio
Noblr, one of the next-generation personal auto insurance companies built on technology, announced its availability to Ohio drivers on December 4. Noblr rewards customers’ good driving behaviors with real-time competitive rates. Innovative in its technology and customer-first approach, Noblr is built on a reciprocal exchange model, where customers are members who help drive the company […]
Noblr Insurance Launches in Texas
Noblr, a next generation personal car insurance company, announced today its Texas launch. Noblr is smart car insurance for responsible drivers that rewards customers’ good driving behaviors with real-time competitive rates. Innovative in technology and structure, Noblr is built on a reciprocal exchange model, where customers are members who help drive the company forward. “With […]
Collision and Comprehensive Net Written Premiums in 2018 Grew at Highest Level in Nearly 20 Years
In 2018, combined collision and comprehensive premiums written in the U.S. grew at levels not seen in decades. According to data published by the Insurance Information Institute, private passenger automobile insurance collision and comprehensive coverage premiums in 2018 were up at the highest level since 1999. Net Written Premiums in 2018 for private passenger collision […]
Tesla Launches Insurance in California
Vehicle manufacturer says it will expand insurance to other states in the future. In a blog post yesterday, Tesla announced it was introducing Tesla Insurance to owners in California. Elon Musk, the founder of the electric vehicle manufacturer, had announced during an earnings conference call in April that the company was planning to offer an […]
Porsche Introduces Auto Insurance Program in Illinois and Oregon
Porsche Financial Services, Inc. (PFS) and Mile Auto, Inc. announced the launch of Porsche Auto Insurance to deliver tailored insurance rates to Porsche drivers. Among the benefits pitched to prospective customers are the vehicle manufacturer’s collision repair certification program and the use of OEM parts. The insurance program limiting costs to actual miles driven, plus […]
J.D. Power Reports Auto Insurance Customer Satisfaction at Record High Levels
With a quarter of auto insurance customers adopting direct-to-consumer auto insurance models, superior digital interaction improves customer experience. The last decade of seemingly non-stop direct-to-consumer advertising and heavy investment into digital self-service technologies have driven roughly one-fourth of auto insurance customers to adopt direct distribution models that bypass agents in favor of do-it-yourself tools. According […]
Tesla Plans to Launch Insurance Product Next Month
In response to a question during its quarterly earnings conference call, Tesla founder Elon Musk explained that the electric vehicle manufacturer was planning to launch an insurance product for Tesla owners. Last year, Tesla began opening its own collision repair centers. When asked if Tesla was considering creating an insurance program to simplify the ownership […]
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