auto insurance

Navigating UBI in Auto Insurance: Insights from Driverscape 2024

Sep 5, 2024 / by Ash Naik posted in Issues & Trends, Telematics, Auto, Commercial Auto, Personal Auto, AAIS Webinar Series, auto insurance, UBI, Usage Based Insurance

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The auto insurance landscape is evolving rapidly, driven by technological advancements and changing consumer preferences. The third annual AAIS Driverscape report provides valuable insights into these shifts, helping insurance carriers navigate the complexities of the modern market.

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Mind Maps: The Organization Tool Transforming the AAIS Auto Program & Insurance Industry Alike

Jan 31, 2024 / by Ash Naik posted in Issues & Trends, Insurance Operations, Auto, Personal Auto, auto insurance, AAIS Auto Program, Mind Maps

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Updating or creating new insurance products is generally expected to be a long and expensive endeavor for insurance carriers. Most insurance products are made with insurance experts in mind, which can be hard for technology teams to understand. Having a product analyst is essential to make these complex ideas clear and ready for implementation.

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Data Calls and Stat Reporting: Outdated Methods Causing Issues for Auto Insurance Carriers

Jun 1, 2023 / by Ash Naik posted in openIDL, Auto, Personal Auto, auto insurance, AAIS Auto Program

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Data calls and stat reporting continue to remain a slow, tedious, and error-prone overhead to most carriers. Recent advances in technology have demonstrated that streamlining and automating this can provide benefits beyond meeting regulatory requirements. Join us in building a community that puts data to work beyond staying in compliance.

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2023 DriverScape Summary: Auto Consumer Attitude Towards UBI

May 4, 2023 / by Ash Naik posted in Issues & Trends, Telematics, Auto, Commercial Auto, Personal Auto, AAIS Views, auto insurance, UBI, Usage Based Insurance

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Personal Auto Insurance is experiencing an unprecedented transformation driven by increasing improvements in telematics. One area leading the transformation is Usage-based Insurance (UBI). While this technology has existed for more than 10 years, it is finally being accepted and adopted by insurance carriers and drivers alike in significant numbers. Fueled by the evolution of telematics, risk models, and pricing; UBI is experiencing quicker-than-anticipated growth. Carriers are presented with new opportunities and challenges unlike any ever before in this new world of technology-driven innovation.

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Is UBI Moving Full Speed Ahead? AAIS Report Snapshots Consumer Attitudes

May 20, 2022 / by Ash Naik posted in Issues & Trends, Telematics, Auto, Commercial Auto, Personal Auto, AAIS Views, auto insurance, UBI, Usage Based Insurance

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While the telematics capabilities that enable auto insurers to track mileage and driving behaviors continue to advance, Usage-Based Insurance (UBI) has  potentially been slow to gain traction among consumers. In keeping with our mission of working with Members to design the best possible insurance products, AAIS recently went direct to consumers to understand the reservations that may be stalling adoption of UBI products and strategies to overcome these obstacles.

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How Regulation is Impacting Auto Insurance

Feb 16, 2022 / by Lori Dreaver Munn posted in Community, Issues & Trends, Insurance News/Current Events, Regulatory/Compliance, P&C Insurers, Auto, Commercial Auto, Legislation & Regulation, AAIS News & Views, AAIS Insights, Personal Auto, Regulation, Insurance Line of Business, auto insurance, GLC

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Regulation plays an outsized role in the development of the auto insurance sector. Since the beginning of the pandemic, we have seen an even higher than usual impact from wild fluctuations in rates, claims, premiums, and consumer reimbursements, to activities impacting the industry itself.

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