auto insurance News
Connected Car Tech Creating Anxiety Over Cyber Attack Risks: Munich Re
Consumers are increasingly worried about cyber attack vulnerabilities with connected and automated vehicles, according to a new Munich Re/HSB survey. Approximately 37 percent of consumers responding ...
GEICO Suit Claiming It Overcharged on Auto Insurance During Pandemic Moves Forward
The auto insurer GEICO Corp, a unit of Warren Buffett's Berkshire Hathaway Inc, must face a proposed class action claiming it overcharged policyholders as the coronavirus pandemic led to less driving ...
InsurTech Loop Announces Seed Funding, Targets Fair Auto Insurance
Loop, a B-Corp MGA focused on using AI, big data and telematics to build more inclusive auto insurance, announced the close of a $3.25 million seed round on Wednesday. Freestyle.VC led the funding ...
Hospital Charges Rise Even as Auto Casualty Claimants Avoid Emergency Rooms
Auto casualty claimants are avoiding hospital emergency rooms during the COVID-19 pandemic but are generating increased hospital charges anyway, according to a new report by Mitchell, a San ...
Root Raises $724.4M, an IPO Victory for the Auto Insurance Startup
Automobile insurance startup Root Inc sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4 million, the company said. Root, which has ...
Swiss Re, Auto Maker Daimler Launch MGA Focused on Auto and Mobility Insurance
Swiss Re and Daimler Insurance Services are jointly launching a managing general agent focused on automotive and mobility insurance. Dubbed Movinx, the aim of the 50/50 joint venture is to develop ...
Auto Insurance Shopping Rebounds After COVID-19 Shutdown
Auto insurance shopping and new business growth rebounded in May and June after a drop in late March and early April due to COVID-19 shutdowns, civil unrest and other events. However, there was ...
Citing Social Justice, Root Pledges to End Credit Scoring for Auto Insurance Pricing
Root Insurance pledged to eliminate the use of credit scoring from its car insurance pricing model by 2025, a move the InsurTech said will help remove bias and discrimination from the process. ...