Vehicle insurance

December 2020 had second-highest level of COVID insurance claims for the year

Retrieved on: 
Wednesday, June 23, 2021
Insurance, Types of insurance, Life insurance, ICICI Prudential Life Insurance, Vehicle insurance

Based on data collected from the Canadian life insurance industry, the report finds that individual life insurance claims due to COVID-19 in December 2020 were the second-highest monthly claims for the year, reaching approximately 75% of the peak level of claims in April 2020.

Key Points: 
  • Based on data collected from the Canadian life insurance industry, the report finds that individual life insurance claims due to COVID-19 in December 2020 were the second-highest monthly claims for the year, reaching approximately 75% of the peak level of claims in April 2020.
  • Based on results from a sample of Canadian life insurance companies, December 2020 COVID-19 claims accounted for about 10% of the total individual insurance claims that month, down slightly from the peak in April and May but up significantly from the low of less than 1% in August.
  • The level of individual life insurance claims in almost every month of 2020 was increased when compared to same month in 2019.
  • The sample of Canadian life insurance companies recorded a total of 3,179 reported individual claims that identified COVID-19 as cause of death in 2020.

IMS Announces Try Per Mile

Retrieved on: 
Wednesday, June 23, 2021
Vehicle insurance

Try Per Mile allows IMSs insurance customers to internally trial multiple, usage-based configurations and to personalize the policyholder experience using payment models not typical of current, in-market mileage-based programs.

Key Points: 
  • Try Per Mile allows IMSs insurance customers to internally trial multiple, usage-based configurations and to personalize the policyholder experience using payment models not typical of current, in-market mileage-based programs.
  • Features and benefits of Try Per Mile include:
    No cost trial, low-cost launch: IMS customers get up to five (5) self-install, on-board diagnostic (OBD) telematics devices, app access/configuration, and a portal for internal usage and trials.
  • Insurers can learn more about Try Per Mile at www.ims.tech/mileage , where they can sign-up for a free trial, and access videos, whitepapers, datasheets and more.
  • IMS recently launched its Vehicle Data Exchange, which enables the IMS DriveSync platform to ingest and process data from any source from OEM embedded units to smartphones and aftermarket hardware.

Press release - Deal reached on new rules to better protect road accident victims

Retrieved on: 
Wednesday, June 23, 2021
Insurance, Directive (EU) 2021/555, Types of insurance, Vehicle insurance

The amended rules will better protect injured people when accidents occur in any EU member state, including domestic victims of an accident caused by a driver from another EU country.

Key Points: 
  • The amended rules will better protect injured people when accidents occur in any EU member state, including domestic victims of an accident caused by a driver from another EU country.
  • The rules harmonise minimum amounts of cover across the EU:

    To tackle uninsured driving, the amended directive allows cross-border insurance checks on vehicles.

  • However, such checks should be non-discriminatory as part of regular checks, and not require the vehicle to be stopped.
  • Background

    The current rules applying to motor insurance enable EU residents to travel anywhere in the EU without the need to buy additional insurance.

Global Usage-Based Insurance Market for ICE & Electric Vehicles (2021 to 2026) - Developing Automotive Usage-Based Insurance Ecosystem Presents Opportunities - ResearchAndMarkets.com

Retrieved on: 
Tuesday, June 22, 2021
General Automotive, Professional services, Insurance, Automotive, Technology, Science and technology, Automotive electronics, Information technology, Global Positioning System, Automotive safety, eCall, Vehicle insurance, Telematics, Insurance, Usage-based insurance, Connected car

The eCall system, mandatory for all new EU vehicles since March 2018, speeds up emergency-response times by 40-50%.

Key Points: 
  • The eCall system, mandatory for all new EU vehicles since March 2018, speeds up emergency-response times by 40-50%.
  • However, the decline in sales statistics did not impact the usage-based insurance market at all.
  • The Asia Pacific usage-based insurance market is estimated to be the fastest-growing regional market.
  • Such initiatives would boost the growth of vehicle telematics, which in turn would drive the growth of the usage-based insurance market during the forecast period.

Mercury Insurance Launches MercuryGO for Oklahoma Drivers

Retrieved on: 
Tuesday, June 22, 2021
Mercury General, Vehicle insurance, Insurance, Service industries, Companies

LOS ANGELES, June 22, 2021 /PRNewswire/ --Today, Mercury Insurance announced that the company has made its usage-based insurance app, MercuryGO, availableto drivers in Oklahoma to help improve driving skills and traffic safety.

Key Points: 
  • LOS ANGELES, June 22, 2021 /PRNewswire/ --Today, Mercury Insurance announced that the company has made its usage-based insurance app, MercuryGO, availableto drivers in Oklahoma to help improve driving skills and traffic safety.
  • Mercury auto insurance policyholders who enroll to use the app immediately receive a 5% participation discount and teen drivers will receive up to a 10% discount.
  • Licensed teen drivers, 18 years and younger, who are registered for MercuryGO will instantly receive a 10% participation discount on auto insurance.
  • Tweet the news:MercuryGO is available in Oklahoma and could save drivers up to a 40% on auto insurance.

Good2Go Insurance, Inc. Now Offering Customers the Option of One-Stop Shopping for all their Insurance Needs.

Retrieved on: 
Monday, June 21, 2021
Vehicle insurance, Insurance

ATLANTA, June 21, 2021 /PRNewswire/ -- Joe DeLago, CEO of Good2Go Insurance, Inc., announces that they are now offering customers the option of one-stop shopping for all their insurance needs.

Key Points: 
  • ATLANTA, June 21, 2021 /PRNewswire/ -- Joe DeLago, CEO of Good2Go Insurance, Inc., announces that they are now offering customers the option of one-stop shopping for all their insurance needs.
  • "At Good2Go Insurance, Inc. we believe access to insurance products should be fast, easy, and convenient.
  • We're pleased that Good2Go Insurance, Inc. has decided to provide their customers access to our platform," says Bill Suneson, co-founder and CEO of Bindable.
  • About Good2Go Insurance, Inc.: Good2Go Insurance, Inc. is a member of the family of American Independent Inc., dba Good2Go Auto Insurance.Good2Go Insurance, Inc. specializes in offering minimal limits car insurance, while also offering collision and comprehensive coverage, to underserved drivers, as well as a variety of other insurance products.

Progressive Reports May 2021 Results

Retrieved on: 
Wednesday, June 16, 2021
Progressive Corporation, Insurance, Vehicle insurance, New York Stock Exchange, PGR, Service companies, Finance, Financial services

See Progressives complete monthly earnings release, including the "Monthly Commentary," for additional information.

Key Points: 
  • See Progressives complete monthly earnings release, including the "Monthly Commentary," for additional information.
  • TheProgressive Group of Insurance Companiesmakes it easy to understand, buy and use auto insurance .Progressiveofferschoicesso consumers can reach us whenever, wherever and however it's most convenient - online at progressive.com, by phone at1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.
  • Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price, Snapshot, and HomeQuote Explorer.
  • The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Farm Bureau Insurance of Tennessee is region's highest in J.D. Power auto insurance customer satisfaction study for 10th consecutive year

Retrieved on: 
Wednesday, June 16, 2021
Farmers Insurance Group, Zurich Insurance Group, Types of insurance, American Farm Bureau Federation, Insurance, Vehicle insurance, Economy of the United States, Financial services

The study measured customer satisfaction with auto insurance companies across five factors: interaction, price, policy offerings, billing process and policy information, and claims.

Key Points: 
  • The study measured customer satisfaction with auto insurance companies across five factors: interaction, price, policy offerings, billing process and policy information, and claims.
  • Power study continues to be the strongest form of word-of-mouth advertising," said Jeff Pannell, Farm Bureau Insurance chief executive officer.
  • Farm Bureau Insurance of Tennessee is the trade name of the Tennessee Farmers Insurance Companies, a single-state operation headquartered in Columbia, Tenn. Farm Bureau Insurance covers more homes and autos than any other insurance company in Tennessee and is the state's largest writer of individual life insurance.
  • Farm Bureau Insurance of Tennessee received the highest numerical score among auto insurance providers in the Southeast Region in the syndicated J.D.

TFBIC Leads Again in Highest Customer Satisfaction Among Auto Insurers in Texas

Retrieved on: 
Wednesday, June 16, 2021
States of the United States, United States, American Farm Bureau Federation, Climate change denial, Delaware, Lackawanna and Western Railroad, Saline County, Missouri, United States Department of Agriculture, Insurance, Vehicle insurance, Texas Farm Bureau, Waco, Texas, Texas

WACO, Texas, June 15, 2021 /PRNewswire/ -- Texas Farm Bureau Insurance Companies (TFBIC) again received the "Highest Customer Satisfaction Among Auto Insurers in Texas," according to the recently released J.D.

Key Points: 
  • WACO, Texas, June 15, 2021 /PRNewswire/ -- Texas Farm Bureau Insurance Companies (TFBIC) again received the "Highest Customer Satisfaction Among Auto Insurers in Texas," according to the recently released J.D.
  • Power 2021 U.S. Auto Insurance StudySM.For ten consecutive years, Texas Farm Bureau Insurance has achieved this badge of honor from J.D.
  • Power for auto insurance customer satisfaction.
  • Power here:
    About Texas Farm Bureau Insurance:
    For over six decades, Texas Farm Bureau Insurance has been protecting our members' moments the big, the small, and the everyday.

TWO YEARS IN A ROW: J.D. POWER RANKS WAWANESA #1 IN CUSTOMER SATISFACTION AMONG AUTO INSURERS IN CALIFORNIA

Retrieved on: 
Tuesday, June 15, 2021
Wawanesa Insurance, Types of insurance, Wawanesa, Insurance, Vehicle insurance, Customer satisfaction, Finance, Financial services

San Diego, California, June 15, 2021 (GLOBE NEWSWIRE) -- Wawanesa Insurance has once again earned Highest in Customer Satisfaction Among Auto Insurers in California in the J.D.

Key Points: 
  • San Diego, California, June 15, 2021 (GLOBE NEWSWIRE) -- Wawanesa Insurance has once again earned Highest in Customer Satisfaction Among Auto Insurers in California in the J.D.
  • Wawanesa achieved the #1 position for customer satisfaction across all five factors of Price, Claims, Policy Offerings, Policy Information, and Interaction in the California Region.
  • Power 2021 Auto Insurance study is based on responses from 4,820 California auto insurance customers and was collected from February through March 2021.
  • Wawanesa Insurance currently offers auto and renters insurance in California and Oregon and has been serving auto and property customers in California since 1975.