Pet insurance market will be worth nearly $38.8 billion by 2030

Pet Insurance - Billions by 2030

The market had experienced a growth rate of 14 percent per year between 2016 through 2021. The global pet insurance market is expected to reach a rate of growth that will bring its value to $38.8 billion by the close of 2030, according to a recent Future Market Insights (FMI) study. The market will demonstrate a consistent rise at a compound annual growth rate of 11 percent. According to the report, the compound annual growth rate (CAGR) of 11 percent from 2022 through 2030. The report also indicated that the…

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3 in 4 female drivers say gender shouldn’t be an auto insurance quote factor

auto insurance - woman driving vehicle

A recent Forbes Advisor survey showed that most drivers feel they are overpaying for their coverage. Nearly 60 percent of American drivers believe that they are overpaying for their auto insurance coverage, according to a survey conducted by a team at Forbes Advisor. The research also examined drivers’ perception of different factors used to calculate premiums. The survey examined the various pricing factors for auto insurance and American drivers’ opinions on the use of those factors to calculate their premiums. The research involved the participation of 2,000 drivers across the…

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State Farm releases insurance company Environmental, Social and Governance Report

Insurance company - Report from business

The second report the insurer has released updates greenhouse gas reductions and sustainability efforts. State Farm has announced the release of its 2021 Environmental, Social and Governance Report, updating the insurance company’s sustainability efforts and greenhouse gas reductions. The report based on last year’s data is intended to be an illustration of the insurer’s efforts. The insurance company’s commitment to “Good Neighbors. Better World.” was outlined in the second report of its nature. The report outlined the insurer’s ESG framework and its progress on environmental sustainability, as well as social…

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Some car models get more speeding tickets than others (these 5 get the most)

Speeding Tickets - Police giving ticket to driver

In 2022, American drivers who prefer certain auto brands are more likely to get pulled over for speed. While everyone has their own unique taste and style, American drivers who get behind the wheel of certain models this year are more likely to get speeding tickets than other auto brands. Honda, Toyota and Ford are the automakers with models most likely associated with fast driving. While each of those automakers is recognized for affordability and quality appealing to a wide-reaching market, they also appear to appeal to drivers at the…

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Nearly 3 in 4 homeowners don’t know how their home insurance works

Home Insurance - Confusion about coverage

72 percent of participants of a Forbes Advisor survey don’t know what their coverage gives them. While most homeowners understand that home insurance is critical, but according to the results of a new Forbes Advisor survey of 2,000 policyholders, the vast majority don’t know what their coverage provides. Homeowners don’t understand their coverage even though they said they’re paying more for it. According to the survey, homeowners don’t realize that their home insurance policy provides more coverage than just protecting their house and belongings against damage or theft. It stated…

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Over 1 in 2 drivers feel they’re paying too much for auto insurance

Auto insurance - high cost car coverage

Almost 1 in 3 motorists have recently switched their insurers for cheaper coverage. The majority of drivers believe they are paying too much for their auto insurance coverage, and a large number of them are aiming to remedy the issue by switching insurers according to a recent Forbes Advisor survey. The survey involved the participation of 2,000 drivers in the United States who have a car policy. The Forbes Advisor survey showed that 58 percent of drivers feel they’re overpaying for their auto insurance. A large number of those policyholders…

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Customers are decreasingly impressed with digital insurance offerings, JD Power study

Digital insurance - keyboard insurance

Insurers aren’t capturing the approval of their customers as much as they used to be. According to a recent J.D. Power study of the property and casualty industry, customer satisfaction with digital insurance offerings is taking a dive, even though insurers have been investing heavily in their mobile apps and customer-facing websites. Customer satisfaction fell quite a bit – by 16 points – when compared to last year’s survey results. The J.D. Power study found that customer satisfaction fell to 499 out of 1,000 points this year. The company attributed…

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