How Telematics Continues to Transform the Auto Market
Transparency regarding data protection practices will remain a key factor in the adoption of telematics-driven insurance policies.
Transparency regarding data protection practices will remain a key factor in the adoption of telematics-driven insurance policies.
While factors like increased repair expenses, more frequent claims and stricter regulatory requirements are responsible for over a decade of premium increases, insurance remains a large cost of doing business.
Trucking companies faced $165 million in nuclear verdicts in 2023, with an increasing trend of thermonuclear verdicts. Mounting costs from these large verdicts present significant challenges for the commercial auto insurance market.
Most drivers believe other motorists’ driving behaviors are bad and getting worse, according to Nationwide. Yet most rate their own driving very highly, despite participating in the same risky behaviors.
Here are some market trends impacting the commercial auto market, as well as technology and communication techniques agents can use to help their clients.
As the journey toward autonomous trucks begins to unfold in earnest, technology is playing a significant role in improving industry safety.