Live Insurance News

Leveraging Allstate Drivewise for Safer Driving Amid Rising Accident Rates

April 18, 2024April 17, 2024 Nordstrom

Allstate Drivewise - Car Accident Increase

Significant Safety Enhancements for Drivewise Users Allstate has uncovered significant safety improvements for drivers who actively use their Drivewise feature, according to a joint analysis with their mobility information and data. The findings indicate that Allstate customers who opt into Drivewise, accessible via the Allstate app, are substantially safer on the road. The program’s data shows a compelling 25% reduction in severe collisions for Drivewise users compared to non-users. Furthermore, an Arity study on driving behavior supports the idea that Drivewise customers are generally more cautious drivers. They are less…

Insurance and Technology: The Rise of Insurtech

December 22, 2023 Guest Author

The insurance industry, traditionally viewed as conservative and slow to adapt to change, is undergoing a dramatic transformation thanks to technology. This fusion of insurance with technology, known as ‘Insurtech’, is reshaping the landscape of insurance offerings, customer service, and business models. The Evolution of Insurtech Insurtech began as a response to the digital revolution that has swept across other sectors. Today, it represents a broad range of applications: from artificial intelligence and machine learning for underwriting and fraud detection, to blockchain for secure and transparent transactions, and the Internet…

Driverless vehicles may be a threat to the auto insurance industry

March 2, 2016March 1, 2016 S.Vagus

Driverless self-driving car Google auto insurance

Allstate predicts that autonomous cars will have an impact on the insurance industry Driverless vehicles may pose a potential threat to the auto insurance industry, according to Allstate. The company has filed its annual 2015 report, suggesting that autonomous cars could impact the industry in a significant manner. These vehicles are equipped with technology that take the human equation out of driving. Most car accidents are caused by human error, which makes the need for insurance coverage quite abundant. Allstate is concerned that autonomous vehicles will reduce the need for…

Auto insurance may experience a paradigm shift because of driverless cars

January 8, 2015January 7, 2015 Logan B.

Google driverless auto insurance news discount

Driverless cars could have a major impact on auto insurance coverage and how companies protect drivers and their vehicles Driverless cars may soon be quite common on the roads, and this could have a major impact on auto insurance coverage. According to Allstate CEO Tom Wilson, there will be an ongoing debate over insurance coverage for driverless vehicles for years to come. Currently, there are precious few driverless vehicles on the roads, with Google being one of the only companies in the world to apply such a vehicle in a…

Mobile apps could disrupt the auto insurance market

December 11, 2014June 4, 2015 Logan B.

Google and Apple may become market disrupters by supporting mobile applications Both Google and Apple may soon become disrupters in the auto insurance market. A growing number of insurers are beginning to use telematics to offer new, usage-based policies that are popular among consumers. These companies are using relatively expensive devices to monitor the driving habits of policyholders and this information is being used to determine the cost of an actual insurance policy. Mobile application may soon become a powerful tool in helping insurers cut the upfront costs associated with…