Benchmarking Discussion: How Current and Emerging Auto Insurance Trends Will Affect Carrier Results
As the average age of autos in use continues to rise, drivers of older cars are likely to drop full coverage.
Rate increases, car shortages, economic concerns and more are keeping a lid on the number of policies in force.
Drivers are only part of the reason, as other issues contribute to rising loss costs.
Retention spiked during the pandemic as regulators and insurers imposed moratoriums on cancellations and payments.
Analyze trends to help navigate emerging challenges.
