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The multi-billion-dollar mobility insurance market arrives The insurance industry has hit a tipping point and insurers have a decision to make. Do they completely overhaul their current business models to adapt to the changing lifestyle and demands of consumers or stick to methods they know best at the risk of losing out to their competitors? The gears are shifting for insurers and they need to decide if they want to hit the pedal to the metal. Source: automotiveworld.com

Exciting announcement! We have partnered with DirectAsia Insurance to allow intermediaries access to its highly customisable car insurance product. This partnership means we have integrated our capabilities with DirectAsia Car Insurance product and our intermediary users can now digitally work on highly #customisable #carinsurance policies to serve their customers with greater flexibility. Regardless of the complexity of the customisation, intermediaries will be able to derive quotes instantly and work with their customers on a fully digital quote to bind process! #generalinsurance #surersg #surer #insurancebrokers #insuranceagent #insuranceindustry #insurancesolution #insurtech #directasiasurer #directasia

The impact of telematics on automotive insurance

General Motors Insurance Emerges from OnStar Insurance Rebrand, Aims for Expansion: GM Financial announced the rebranding of OnStar Insurance to General Motors Insurance, signaling a strategic shift and expansion plans in the auto insurance market. In 2023, GM Insurance transitioned from an agency model to a full-stack carrier, enhancing its capability to influence the insurance industry and innovate for customers. Andrew Rose, President of GM Insurance and EVP at GM Financial, emphasized that this rebranding will boost product awareness and understanding among GM customers. The move aligns with GM’s key milestones in vehicle ownership, offering an auto insurance product that is tailored to be safer, smarter, and more personalized. The rebranding also strengthens the alignment with General Motors’ core strategies and operations, fostering enterprisewide synergies. GM Insurance, specializing in OEM (original equipment manufacturer) auto insurance, is currently operational in Arizona, Texas, and Illinois. The company plans to expand its reach in 2024. The origins of this initiative trace back to late November 2020 with the launch of OnStar Insurance. This venture aimed at customizing insurance rates based on individual driving behaviors and vehicle safety system usage, collecting data on driving patterns like hard braking and acceleration. This approach to insurance underscores a growing trend in the industry towards personalized, behavior-based insurance models. #Auto #Technology #Claims #Insurance

📈 Rising costs are hitting everyone hard, and fleet insurance is no exception. But fear not! ▶️ Discover the key reasons behind this trend and learn how to fight back in our latest article. 🔹 Keep reading https://goo.su/zITQSC - - - - - - - - #FleetManagement #Telematics #FleetManagers #GPSTracking #GPSTrackit #Insurance #VehicleInsurance

Telematics technology is revolutionizing truck insurance, providing relief from high premiums for heavy vehicle operators. Explore how Philip Toohill and ICIB Brokerweb Insurance and Risk Advisory are leveraging telematics to transform the insurance landscape. https://hubs.la/Q02z_tXz0

"We are much more than a traditional commercial auto insurance company. What makes us special is our unconventional impact-driven approach to commercial auto insurance. We have proprietary pricing models built on hundreds of billions of miles of driving data. When you combine that expertise with our technology, it allows us to reward safer driving with lower insurance premiums." Hear Grant Harrell and Fairmatic's Jamie Trish discuss what makes Fairmatic a company at the cutting edge of transportation & mobility technology today. In this segment of "Are We There Yet?" Grant and Trish take us through the fast-paced world of technology & commercial auto insurance. They cover: - Commercial auto groups finding success utilizing Fairmatic’s insurance solutions - Trish’s leadership role within the insurance industry - The shift from using historical to real-time data in the underwriting process - The evolving risk landscape within insurance today ...and much more! You can listen to the full podcast below. Let us know your thoughts! #Fairmatic #carinsurance #insurance #autoinsurance #insuranceagent #insurancebroker #commercialinsurance #insurancepolicy #insuranceclaim #investment #insurancebrokers #telematics #fleetinsurance

A digital ecosystem is an intricate, interwoven network of services, applications, and technologies, all presented to users within a singular, unified interface. Consider the process of car rentals: within a dedicated application, as a user begins to finalise their car rental booking, they're not just limited to that single service. Seamlessly embedded into the same platform, they may also come across associated offerings such as accident insurance. This cohesive integration ensures that users have a broader range of services at their fingertips, enhancing their overall experience and providing added convenience. #insuranceindustry #insurance #insurancebroker #insuranceagents

Transforming European automotive insurance 🚗 I’m excited to share the latest Qover milestone achieved through our partnership with Helvetia Insurance Group, a leading global insurer 🤝 We’ve introduced the industry’s first truly pan-European auto insurance offer – made possible by Qover’s tech platform and a Freedom of Services model. In a complex industry marked by regulatory challenges, we set out to help automotive and mobility businesses launch programs across borders in a short amount of time – some in just a few weeks.  Not only is this more efficient than the multi-local model, but this approach also delivers a unified user experience while being tailored to local requirements ✨ This is supported by our tech platform, which offers a wide range of functionalities – API-based integrations, automated eligibility checks, data insights and more – specifically designed to help insurers, brokers and automotive businesses enhance the customer experience and streamline insurance operations. Together, we’re proud to support leading companies like Fisker Inc, NIO, Volta Trucks, Lucid Motors, NITO S.r.l. and NIU Technologies, driving the future of automotive insurance. Discover more about this innovative offer 👇 #Partnership #Insurance #Insurtech #EmbeddedInsuranceOrchestration #SuccessEnsured #AutomotiveIndustry

More competition for the Independent Agent Some original equipment manufacturers (OEMs) are offering auto insurance as a way to extend their relationships with vehicle owners and improve the overall customer experience. #directselling #automanufacturing #autoinsurance