How the COVID-19 Pandemic Is Changing the Insurance Industry
Insurers' rapid responses to the shutdowns via rebates and discounts helped contain price shoppers.
Data shows changing severity patterns for the initial 10-day window, with subsequent changes as well.
Claims activity fell in tandem with regional closures, but subsequent changes haven't been as consistent.
As overall driving drops and patterns change, consumers may come to view telematics as a better fit for their travel patterns.
Insurance shopping rose during the shutdown, particularly for companies not exclusively focused on direct selling.
