How the COVID-19 Pandemic Is Changing the Insurance Industry
Insurance shopping rose during the shutdown, particularly for companies not exclusively focused on direct selling.
Like private passenger claims, commercial claims frequency fell early in the shutdowns, but rose more quickly.
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.
When financial concerns rise, insurers that compete on price may get a second look.
