telematics News

A.M. Best Says Commercial Auto Losses Worst in 10 Years

The U.S.commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting results, according to a new AM Best report. Indeed, the …

Business News: Snapsheet, IMS and Hippo

Outdoorsy Contracts with Snapsheet for Virtual Claims Outdoorsy, a sharing economy provider that connects renters with recreational vehicle owners, has contracted to use Snapsheet’s virtual claims management system, the Chicago-based insurtech said in a press release. Snapsheet said Outdoorsy has …

Business News: HomeCare Connect, Roost, Consolidated Claims Group

HomeCare Connect Rolls Out TextConnect HomeCare Connect, which provides in-home caregivers to injured workers, announced the launch of a free texting service to allow clients to communicate with care givers. HomeCare Connect said that during its initial contact with injured …

Ford to Make It Easy for Drivers to Hook Into Allstate Telematics Program

Allstate Corp. struck a deal with Ford Motor Co. that will allow some of the automaker’s customers to share data with the insurer for its program that tracks mileage. The majority of Ford and Lincoln 2020 model-year vehicles with embedded …

‘Powerful Predictiveness’ May Be Key to Reversing Commercial Auto Losses

The future cannot come too soon for commercial auto. Despite growing premiums, the commercial auto line hasn’t turned an underwriting profit for the past nine years as both the number and cost of claims exceeded expectations. Tech companies are pitching …

Business News: Roost, J.S. Held, Charles Taylor Technical Services

Roost Teams Up with Church Mutual Roost, a Silicon Valley company that sells telematics products, has penned an agreement with Church Mutual to provide policyholders with water leak, freeze and power outage detection and alert equipment. Church Mutual will be …

Tesla Insurance Will Seek to Use Driver Video, GPS Data

Tesla Inc.’s use of individual customer data, such as vehicle camera footage and GPS, to price its new insurance products will depend on drivers’ authorization and individual U.S. state laws, a senior company executive said on Wednesday. “The data is …

Fitch: Technology Needed to Reverse Commercial Auto’s Dismal Performance

The commercial auto line hasn’t returned an underwriting profit for eight years now. Growing claim severity is a big part of the problem. Advanced technology needs to be a part of the solution, according to a report released Tuesday by …

GEICO Gets Progressive, Joins Auto Insurers Offering Telematics

Berkshire Hathaway’s GEICO auto insurer has joined the ranks of carriers using telematics to track and improve driver behavior—after resisting for years. GEICO has been one of the few among the top 10 largest personal auto insurance carriers without a …

State Farm Moves Auto Telematics into ‘Real Time’

The nation’s largest insurer has stepped up its investment in telematics, announcing this week an upgrade to its usage-based insurance program that allows policyholders to check on their driving habits trip-by-trip instead of waiting for a periodic score card. State …