TLDR: Car insurance rates in the U.S. have risen by 37% since 2020, largely due to the high cost of repairing high-tech vehicles. Sensors and computer code in cars, along with the rising cost of replacement parts, are driving up insurance rates. The average repair bill for an electric vehicle is $6,618, compared to $4,437 for a gas car. Additionally, the increasing number of parts and advanced driver-assist features in vehicles is making repairs more expensive. Insurance rates for EVs and collision claims have also seen significant increases. To save on car insurance, consider adjusting coverage, asking for discounts, switching to usage-based insurance, bundling insurance plans, and reviewing the costs and benefits of installing a tracking device for a discount.
Blaming sky-high car insurance on tech-filled rides.
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Your Daily InsurTech Briefing – 2024-09-07
Let’s see what’s in the news today. Closing the insurance talent gap: the role of technology and innovation The gap grows ever wider and needs a solution. Read the original article here
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Closing the insurance talent gap with technology and innovation.
TLDR Key Points: The insurance industry faces a talent gap, with only 7% of young people viewing it as a viable career path. Technology and innovation play a crucial role in attracting
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Your Daily InsurTech Briefing – 2024-09-06
Let’s see what’s in the news today. Flowcode and REIN join forces to revolutionise embedded insurance Flowcode has partnered with REIN, an embedded insurance technology company, to help consumers secure quotes and find
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Insurance risk service plans play a crucial role in coverage options.
TLDR: In today’s insurance sector, managing the human side of risk is crucial for success. A well-structured risk service plan can lead to benefits for insurers and insureds. In today’s rapidly changing
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IAT Insurance Group chooses CLARA Analytics to streamline claims operations.
TLDR: IAT Insurance Group partners with CLARA Analytics to implement Claims DocIntel Pro platform The partnership aims to streamline auto and general liability claims processes, reduce costs, and eliminate errors IAT Insurance
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