Benchmarking Discussion: How Current and Emerging Auto Insurance Trends Will Affect Carrier Results
Other types of information can uncover trends that relate to insureds shopping.
Claims frequencies have fallen at double-digit rates in many areas, but claims volume has not dropped as significantly.
Rate increases, car shortages, economic concerns and more are keeping a lid on the number of policies in force.
Medical, labor, parts shortages and other rising costs are combining to drive claims costs upward.
As the average age of autos in use continues to rise, drivers of older cars are likely to drop full coverage.
