Live Insurance News

State Farm will power Illinois corporate facilities with renewable energy

December 8, 2022December 7, 2022 Julie Campbell

The insurer has signed an agreement with Constellation to purchase the green electricity. Insurance company State Farm recently announced that they have signed a new agreement with one of the leading power and natural gas suppliers in the United States, Constellation, to power the Illinois corporate facilities with renewable energy. The energy strategy is a component of the insurance company’s broader decarbonization effort. State Farm has been making a number of environmental impact commitments lately, and this renewable energy agreement is among the latest steps it has taken. The agreement…

State Farm rolls out insurance plan strategy for more personalized quotes

September 22, 2022September 21, 2022 Nordstrom

The insurer lets consumers use a spectrum of options for the purpose of covering individual needs. State Farm recently launched an advertising campaign for its new Personal Price Plan insurance plan strategy aimed at covering customers at a price specific to their coverage needs. The idea is that the consumer can obtain a personalized quote for precisely what they need covered. The campaign focuses on a range of different scenarios demonstrating how customers have options to control the price of their insurance plan based on their specific needs. The latest…

Lightning insurance claims were highest in these 5 states last year

June 22, 2022June 21, 2022 G. Turner

About 9,000 customers filed for this type of damage with State Farm last year, for a total of $107 million. Last year, State Farm paid almost 9,000 lightning insurance claims to homeowners’ policyholders, who received a total of about $107 million to repair the damages caused. Some states have seen substantially more claims of this nature than others across the country. According to State Farm, the states that experienced the most lightning insurance claims were: Texas, with $7.7 million in total claims. Georgia, with $7.3 million in total claims. California,…

State Farm boosts insurance agent training and catastrophe research

June 16, 2022June 15, 2022 Nordstrom

Climate change is changing the nature of natural disasters and the insurer aims to keep ahead of it. As climate change changes the nature of storm damage, and as technology continues to progress, State Farm has invested into advanced catastrophe research and insurance agent training. The insurer wants to make sure its tech and teams are prepared for current and upcoming trends. State Farm is using the additional insurance agent training and catastrophe research to help keep ahead of the impact of climate change for more rapid claim handling, quicker…

State Farm wrote the most auto insurance premiums in the US, says NAIC

March 22, 2022March 21, 2022 H. Cutner

The National Association of Insurance Commissioners ranked the insurer in the top spot for 2021. According to the National Association of Insurance Commissioners (NAIC), State Farm took the top spot among auto insurance companies in terms of its written private passenger vehicle policy premiums. This ranking was released in the most recent NAIC Property/Casualty Market Share report. NAIC released its market share data for 2021 in the report, including nationwide direct written premiums for the largest 25 companies and groups as reported on the annual financial statement state page that…

State Farm Insurance company dives into the metaverse

February 10, 2022February 9, 2022 Nordstrom

The insurer celebrates its 100th birthday this year but isn’t letting its age hold back its forward progress. State Farm Insurance company may be turning 100 years old this year, but it is also leaping forward with the latest technology by entering the metaverse. The insurer has announced that it is looking ahead to a future that includes the metaverse. The insurance company announced that it would be stepping into the metaverse as a part of its path ahead with technology. “At 100 years young, State Farm is harnessing the…

State Farm Insurance company chooses TikTok over TV for Super Bowl campaign

January 27, 2022January 26, 2022 Nordstrom

The insurer is taking aim at a fresh generation of consumers in its video challenge for the big game. State Farm first started airing ads during the Super Bowl last year, and the insurance company plans to do so again in 2022, though in a notably different way. Instead of focusing its ad dollars for an expensive TV spot, it wants to hang with viewers online. The insurance company has decided to take a different direction than the usual marketing splurge on huge celebs and exceptionally pricy commercial spots during…