How the COVID-19 Pandemic Is Changing the Insurance Industry
Data shows changing severity patterns for the initial 10-day window, with subsequent changes as well.
Insurers' rapid responses to the shutdowns via rebates and discounts helped contain price shoppers.
Insurance shopping rose during the shutdown, particularly for companies not exclusively focused on direct selling.
Claims activity fell in tandem with regional closures, but subsequent changes haven't been as consistent.
Like private passenger claims, commercial claims frequency fell early in the shutdowns, but rose more quickly.
