Less than half of parents rate their teen’s driving as good or excellent, according to Nationwide, with some parents reporting their teen’s unsafe driving behaviors including styling their hair or even watching videos.
The American Property Casualty Insurance Association (APCIA) recently launched a public awareness campaign on the importance of parents encouraging teens to be safe behind the wheel.
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.
This year’s conference focused on generative artificial intelligence (AI) and the industry’s accelerated acceptance of AI to extract data to deliver better outcomes in underwriting, claims, service and sales.
The latest driving behavior survey from Nationwide revealed that both personal auto and commercial drivers partake in risky behaviors that impact all drivers on the road.
As economic anxiety increases and the hard market pushes insurance premiums higher, 51% of consumers said they are looking for ways to save money on their existing insurance policies.
As 40% of consumers saw their rates increase, carrier ad spending has decreased and telematics adoption has stabilized after an initial surge, according to a J.D. Power report.
The study by J.D. Power shows that the increase in auto premiums is dragging down the overall satisfaction of policyholders and hurting retention rates of bundles.
U.S. insurers are failing to raise premiums fast enough to keep up with historic rates of inflation, according to the American Property Casualty Insurance Association (APCIA).
Lemonade will acquire auto insurer Metromile in an all-stock transaction for just over $200 million net of cash.
