How the COVID-19 Pandemic Is Changing the Insurance Industry
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.
As overall driving drops and patterns change, consumers may come to view telematics as a better fit for their travel patterns.
When financial concerns rise, insurers that compete on price may get a second look.
Insurers' rapid responses to the shutdowns via rebates and discounts helped contain price shoppers.
