Vehicle insurance

Insurance Analytics Market worth $20.6 billion by 2026 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Monday, April 12, 2021

b'Insurance companies are the end-user companies that provide various types of insurance, such as consumer insurance (including life and health insurance, and vehicle/auto insurance) and commercial insurance (employee insurance and asset insurance for manufacturing companies).

Key Points: 
  • b'Insurance companies are the end-user companies that provide various types of insurance, such as consumer insurance (including life and health insurance, and vehicle/auto insurance) and commercial insurance (employee insurance and asset insurance for manufacturing companies).
  • Insurance companies are now widely adopting various technology solutions, including analytics, for their internal and customer-facing services.
  • Increasing service demand coupled with critical end-of-year fiscal reporting forces these organizations to adopt advanced technological solutions, leading to a larger market size during the forecast period.
  • Bajaj Allianz Life Insurance, a Pune, India-based life insurance provider, is among the leading insurers in India who are using predictive analytics across their insurance operations.

Farmers Insurance® Launches FairMile(SM), New Usage-Based Commercial Auto Insurance Program in Washington State

Retrieved on: 
Thursday, April 8, 2021

WOODLAND HILLS, Calif., April 8, 2021 /PRNewswire/ -- Farmers Insurance today announced it is offering its new usage-based commercial automobile insurance program, FairMile SM, in Washington state.

Key Points: 
  • WOODLAND HILLS, Calif., April 8, 2021 /PRNewswire/ -- Farmers Insurance today announced it is offering its new usage-based commercial automobile insurance program, FairMile SM, in Washington state.
  • "Farmers is excited to bring the FairMile program to the small business community in Washington," said Aaron Cruz, product development lead for the FairMile program at Farmers Insurance.
  • With the FairMile program, premium is based on the actual miles driven in each business vehicle insured by a Farmers Commercial Auto policy.
  • "Farmers Insurance" and "Farmers" are tradenames for a group of insurers providing insurance for automobiles, homes and small businesses and a wide range of other insurance and financial services products.

California Auto Insurance Customers May Benefit From Acceptance Insurance's Approval To Use Transunion Vehicle History Score Powered By Carfax®

Retrieved on: 
Thursday, April 8, 2021

NASHVILLE, Tenn., April 8, 2021 /PRNewswire/ --First Acceptance Insurance Company, Inc. (Acceptance) received approval from the California Department of Insurance on February 19, 2021, to use the TransUnion Vehicle History Score powered by CARFAX to help set auto insurance rates.

Key Points: 
  • NASHVILLE, Tenn., April 8, 2021 /PRNewswire/ --First Acceptance Insurance Company, Inc. (Acceptance) received approval from the California Department of Insurance on February 19, 2021, to use the TransUnion Vehicle History Score powered by CARFAX to help set auto insurance rates.
  • Vehicle History Score, a more accurate way to score a vehicle's risk, could save Acceptance customers money on their auto insurance premiums by helping to further segment risk, allowing Acceptance to improve pricing.
  • "Rates for Acceptance's California customers will now include Vehicle History Score, which could save them money on their car insurance.
  • *Outside of California, Vehicle History Score utilizes additional vehicle attributes, including damage history, mileage history, repair history, ownership length and type, and other similar information.

Worldwide Telematics Insurance Industry to 2025 - Focus on Product, Application, and Country Assessment - ResearchAndMarkets.com

Retrieved on: 
Thursday, April 8, 2021

The "Telematics Insurance Market - A Global and Regional Market Analysis: Focus on Product, Application, and Country Assessment - Analysis and Forecast, 2020-2025" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Telematics Insurance Market - A Global and Regional Market Analysis: Focus on Product, Application, and Country Assessment - Analysis and Forecast, 2020-2025" report has been added to ResearchAndMarkets.com's offering.
  • Telematics insurance is an insurance program based on current driving behavior as opposed to historic achievement and is sometimes called black box insurance.
  • The telematics insurance market research provides a detailed perspective on the different types of products, their applications, and value estimation, among others.
  • The telematics insurance market report is a compilation of different segments, including market breakdown by type, application, region, and country.

Freeway Insurance Joins Trackhouse Racing

Retrieved on: 
Tuesday, April 6, 2021

HUNTINGTON BEACH, Calif., April 6, 2021 /PRNewswire/ --Freeway Insurance, the largest auto insurance and personal lines distribution company in the U.S., will join first-year NASCAR racing organization, Trackhouse Racing, as a premium sponsor on its No.

Key Points: 
  • HUNTINGTON BEACH, Calif., April 6, 2021 /PRNewswire/ --Freeway Insurance, the largest auto insurance and personal lines distribution company in the U.S., will join first-year NASCAR racing organization, Trackhouse Racing, as a premium sponsor on its No.
  • Freeway Insurance offers basic to premium insurance plans in auto, truck, commercial vehicle, fire, flood, renters, small commercial, motorcycle and recreational vehicle insurance products.
  • "We are honored Freeway Insurance chose to join us and we know the NASCAR community will embrace its participation with Trackhouse Racing."
  • Freeway consumers access Freeway Insurance through neighborhood Freeway offices as well as by visiting freewayinsurance.com or calling (800) 300-0227 .

Insurance Telematics Market Size to Reach USD 3556 Million by 2026 at a CAGR 11.9% | Valuates Reports

Retrieved on: 
Monday, April 5, 2021

- Vehicle Telematics Market size is projected to reach USD 139420 Million by 2026, from USD 53380 Million in 2019, at a CAGR of 14.7% during 2021-2026.

Key Points: 
  • - Vehicle Telematics Market size is projected to reach USD 139420 Million by 2026, from USD 53380 Million in 2019, at a CAGR of 14.7% during 2021-2026.
  • - The Telematics Control Unit (TCU) market size was valued at USD 2675.5 Million in 2020 and is projected to reach USD 12060 Million by 2027, at a CAGR of 24.0% during the 2021-2027.
  • - The Telematics Market is segmented by Type Automotive OEM, After Market, by Application Automotive, Insurance, Healthcare and by various regions.
  • - Usage-Based Insurance (UBI) Market is segmented by Type Pay-As-You-Drive Insurance (PAYD), Pay-How-You-Drive Insurance (PHYD), Pay-As-You-Go Insurance (PAYG), Distance Based Insurance, by Application Men, Women and by various regions.

Insurance Telematics Market Size to Reach USD 3556 Million by 2026 at a CAGR 11.9% | Valuates Reports

Retrieved on: 
Monday, April 5, 2021

- Vehicle Telematics Market size is projected to reach USD 139420 Million by 2026, from USD 53380 Million in 2019, at a CAGR of 14.7% during 2021-2026.

Key Points: 
  • - Vehicle Telematics Market size is projected to reach USD 139420 Million by 2026, from USD 53380 Million in 2019, at a CAGR of 14.7% during 2021-2026.
  • - The Telematics Control Unit (TCU) market size was valued at USD 2675.5 Million in 2020 and is projected to reach USD 12060 Million by 2027, at a CAGR of 24.0% during the 2021-2027.
  • - The Telematics Market is segmented by Type Automotive OEM, After Market, by Application Automotive, Insurance, Healthcare and by various regions.
  • - Usage-Based Insurance (UBI) Market is segmented by Type Pay-As-You-Drive Insurance (PAYD), Pay-How-You-Drive Insurance (PHYD), Pay-As-You-Go Insurance (PAYG), Distance Based Insurance, by Application Men, Women and by various regions.

2021 UK Motor Insurance Consumer Research Report - ResearchAndMarkets.com

Retrieved on: 
Friday, April 2, 2021

The "UK Motor Insurance Consumer Research Report 2021" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "UK Motor Insurance Consumer Research Report 2021" report has been added to ResearchAndMarkets.com's offering.
  • One-third of motor insurance policyholders have been impacted by COVID-19 when it comes to their motor insurance.
  • Many policyholders bundle extra cover with their motor insurance policy: along with their motor insurance, almost four-in-ten take out motor legal protection and almost one-in-five breakdown cover.
  • This report examines the motivations, experiences and opinions of the UK motor insurance customer.

Metromile Announces Fourth Quarter and Full Year 2020 Results

Retrieved on: 
Tuesday, March 30, 2021

SAN FRANCISCO, March 30, 2021 (GLOBE NEWSWIRE) -- Metromile, Inc. (Metromile) (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, today announced financial results of Metromile Operating Company (formerly MetroMile, Inc.) for the fourth quarter and full year 2020 in its shareholder letter.

Key Points: 
  • SAN FRANCISCO, March 30, 2021 (GLOBE NEWSWIRE) -- Metromile, Inc. (Metromile) (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, today announced financial results of Metromile Operating Company (formerly MetroMile, Inc.) for the fourth quarter and full year 2020 in its shareholder letter.
  • Metromile will hold a conference call to discuss the results at 5:00 pm ET / 2:00 pm PT.
  • Metromile (NASDAQ: MILE, MILEW) is a leading digital insurance platform in the United States.
  • In addition, through Metromile Enterprise, it licenses its technology platform to insurance companies around the world.

Global Insurance Telematics Market (2021 to 2026) - Growth, Trends, COVID-19 Impact, and Forecasts - ResearchAndMarkets.com

Retrieved on: 
Tuesday, March 30, 2021

Insurance telematics poses the potential to alter the current scenario of motor insurance and positively impact claims, risk selection, and fraud detection.

Key Points: 
  • Insurance telematics poses the potential to alter the current scenario of motor insurance and positively impact claims, risk selection, and fraud detection.
  • The key drivers supporting the initiative for insurance telematics are decreasing the cost of development and technology, altering consumer behavior, and stringent government regulations.
  • The rising incorporation of the internet of things (IoT) into passenger and commercial vehicles is propelling the utilization of cloud services in insurance telematics.
  • The European insurance telematics market is still controlled and dominated by insurers in Italy and the United Kingdom, with an estimated 4.3 million and 540,000 policies, respectively.