How the COVID-19 Pandemic Is Changing the Insurance Industry
When financial concerns rise, insurers that compete on price may get a second look.
Data shows changing severity patterns for the initial 10-day window, with subsequent changes as well.
Innovations such as accelerated underwriting once were aspirations for some insurers but have become necessities for most.
Insurers' rapid responses to the shutdowns via rebates and discounts helped contain price shoppers.
As overall driving drops and patterns change, consumers may come to view telematics as a better fit for their travel patterns.
