Live Insurance News

Auto insurance telematics appealing to most European drivers

October 9, 2013October 7, 2013 G. Turner

Provided that premiums would not increase, the majority of motorists would opt for usage based coverage. According to the results of a recent survey among six countries across Europe, the majority of drivers would choose an auto insurance program that uses telematics if they were guaranteed that they would not experience a premiums increase. Most of the survey respondents expressed a level of interest in usage based coverage programs. The majority of the participants in this recent Towers Watson survey said that they were interested in usage based auto insurance…

Auto insurance survey gives the leaders some time in the spotlight

October 4, 2013October 4, 2013 G. Turner

This latest study took a number of different categories into consideration to show where insurers shine. The auto insurance industry has just undergone another study, this time to help to provide some insight into the way that consumers think about the various insurers offering them coverage. Leading the companies in terms of customer satisfaction was USAA. According to the respondents to the auto insurance survey, one in every four said that they had considered changing their providers at some point during the last year. Among the customers in that category,…

Auto insurance is using technology to focus on driver behavior awareness

October 3, 2013October 1, 2013 Julie Campbell

As usage based programs become more common, it is changing the future of this part of the industry. As both vehicle and telematics technology continue to evolve and usage based programs come closer to the mainstream, the auto insurance industry is placing a much greater focus on the actual behaviors of the consumer, while behind the wheel. Some industry experts feel that coverage is now becoming a tool to encourage motorists to become better drivers. At the same time, it also means that increasing automation in vehicles, to the degree…

Usage based insurance may exchange discounts for privacy risks

October 1, 2013September 28, 2013 G. Turner

Although the programs are offering cheaper premiums to good drivers, it may come at a cost. Pay as you drive programs, also known as usage based insurance plans, are rapidly increasing in their popularity and use a wireless device installed in the car to allow the insurer to track the actual driving behaviors of the individual so that he or she can receive discounts based on safe habits. However, a recent study is indicating that in exchange for lower premiums, the driver’s privacy may be at risk. The usage based…

Auto insurance fraud crackdown planned in Michigan

September 19, 2013September 17, 2013 Julie Campbell

The state intends to expand its efforts to put a stop to fake coverage certificates. According to Ruth Johnson, Secretary of State, she and law enforcement in Michigan are working together with the auto insurance industry in order to considerably expand crackdown efforts on fake certificates that are being used to obtain vehicle registrations. The fraud that was discovered by Johnson and her department had a staggering rate of 16 percent. Johnson explained that her department had found a 16 percent rate of auto insurance fraud within a single day…