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Private automobile loss ratios surged from 55.6 year-end 2020 to 72.2 in the first three quarters of 2021, the highest level in a decade. At the same time, prices for new vehicles rose 11.8% last year, the largest rise since 1975. Higher physical damage severity added nearly six points to combined ratios of certain large […]
The post As inflation pushes telematics adoption, new opportunities arise first appeared on Daily Fintech.
During its quarterly earnings call, Tesla divulged the launch of its telematics insurance in Texas. Tesla Insurance rolled out a Safety Score program, with plans to actively track driver behavior to presage the likelihood of a collision. The program will be fine-tuned as they receive more data, ostensibly setting them apart from competition in […]
The post Tesla Scores with Safety Program – Driving Behavior Determines Premium appeared first on Daily Fintech.
Economic game theory has resided at the core of insurance underwriting for some time but might be losing its luster through the advent of price aggregators. ‘Gamification’ through behavioral economics is gaining traction concurrently in the industry, that is, devising schemes to engage insureds more often with their policy than simply at annual renewal. More […]
The post Insurance- not all fun and game theory appeared first on Daily Fintech.