Live Insurance News

Berkshire insurance and investments lead to 37 percent profit drop

August 11, 2015August 8, 2015 H. Cutner

The slump in the industry has contributed to a reduction in the company’s revenues. According to a recent report from the company, the Berkshire insurance and investments situation in the second quarter of this year wasn’t necessarily something that would be causing investors to dance about with glee. During that quarter, the profits at Berkshire Hathaway Inc, under Warren Buffett, fell by 37 percent. Greatly to blame for the issues with profits was the Berkshire insurance arm, as there had already been a decline in the gains from investments, but…

Credit has a big impact on auto insurance premiums

June 12, 2015June 11, 2015 Marc

Report highlights the effect that credit data has on insurance prices Credit score has a lot to do with auto insurance rates, according to a recent report from WalletHub, a personal finance organization. The report focused on how a driver’s credit score affects their insurance rates in the United States. All states but California, Hawaii, and Massachusetts were examined for the report. In these states, using a driver’s credit history to price auto insurance coverage is illegal, so such information does not contribute to higher premiums. Those with no credit…

Auto insurance premiums at GEICO and Allstate are going up

May 11, 2015May 11, 2015 G. Turner

Certain large national insurers will be increasing their rates following a decline in underwriting results. It looks as though even the auto insurance companies that are known for providing affordable premiums are not immune to the need to increase rates every now and then, as GEICO has joined the national insurers that have been increasing their rates. The first quarter’s decline in underwriting profits were down and will be increasing rates to compensate for it. During the first quarter, GEICO saw underwriting profits of $160 million. When compared to the…

Berkshire Hathaway seeks to enter the insurance industry in Canada

February 2, 2015January 31, 2015 G. Turner

The company has recently announced its intentions for “expanding into the Canadian marketplace.” Berkshire Hathaway Specialty Insurance has now announced that it will be making its way into the “Canadian marketplace,” and that it already has the necessary licenses for conducting business in that insurance industry. Within that country, the company said it, “underwrites on the paper of National Liability & Fire Insurance Company.” National Liability is one of the members of the National Indemnity group of insurers which is owned by Berkshire Hathaway. This move will bring the insurer’s…

Insurance marketing display ads are more effective than television

August 26, 2014August 25, 2014 H. Cutner

A recent report has shown that they are nine times more effective in terms of brand awareness. As insurance marketing techniques are being considered, a recent discovery made by Rocket Fuel might help insurers to make the most effective choices for their needs when their goals are to boost their brand awareness. The research determined that display advertising is nine times more successful than television. Within the research, Rocket Fuel found that digital display advertising for insurance marketing is much better at forming immediate brand awareness for life and auto…

Insurance marketing spending war is easing

March 28, 2014March 25, 2014 G. Turner

The battle between Allstate and Geico over ads now appears to be cooling down. There has been an insurance marketing war going on between Allstate and Geico in terms of spending on ads, but now after two years of increases that have been in the double digits, it is now being reported that the later of those insurers had boosted its ad spend by only 5 percent in 2013, to reach $1.75 billion. At the same time, Allstate Corp. is also slowing its rate of spending on the ads that…

Insurance technology is taking a step toward becoming more personable

March 26, 2014March 24, 2014 S.Vagus

Insurers are beginning to focus on the world of mobile applications Insurance companies are beginning to look to technology in order to help them connect with consumers. While many insurers have turned to social media in order to increase their engagement, having a presence on sites like Twitter and Facebook is no longer considered adequate. As such, many companies have begun to develop and release their own mobile applications in order to appeal more effectively to consumers that are becoming heavily reliant on smartphones and tablets. Apps may be able…