Consumers Driving Auto Insurance Technology Boom

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May 18, 2021—Consumers are driving the growing reliance on technology in the auto insurance industry, an analysis by Property Casualty 360 found.

A report from the publication detailed all the different ways auto insurers are using technology. The crux of the reasoning is because of consumer trust in the technology. CCC’s Crash Course report found 54 percent of drivers are now comfortable sharing information on miles driven for pricing compared with 41 percent in 2019. Further, nearly 60 percent said they are comfortable sharing distracted driving details, while almost half would reveal speed and location data.

“On top of that, 73% said they would choose an insurer that leverages AI to process claims quicker,” the analysis reads.

This has led to insurers enhancing claims, on-boarding new data sets, and breaking barriers to adoption. To read the full report, click here.

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