GM Sees Insurance As Part of Growing Its Business Beyond Cars, Trucks

By , and | April 7, 2021

  • April 7, 2021 at 1:09 pm
    Barry Rabkin says:
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    I’ll remain an USAA insurance customer regardless of what vehicle I purchase or lease, thank you very much.

  • April 7, 2021 at 1:37 pm
    Mr. Integrity says:
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    Poor child . . . she must be a millennial. Having a known brand and deep pockets only gets you so far when you want to “tackle” insurance and make it a new revenue stream. There are too many formerly bright eyed casualties that have trodden this path before.

    The best way to fail any attempt to enter the insurance industry as an automobile manufacturer or dealer is to put an engineer at the helm of innovation.

    PS – I echo Mr. Rabkin’s comments . . . as I am sure many others do too!

    • April 7, 2021 at 5:45 pm
      SWFL Agent says:
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      The only benefit I see to them selling insurance is that once they start paying repair bills maybe they can figure out a way to design vehicles that don’t have $1200 side mirror replacements.

      • April 8, 2021 at 8:13 am
        Rosenblatt says:
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        Most side mirrors now have a camera and a blind spot warning in them. I don’t think you’ll see them drop down to the sub $200-level anytime in the future.

  • April 7, 2021 at 2:01 pm
    raye knoll says:
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    hmmm…perhaps GM could learn about insurance, oh, wait…didn’t they formerly have National General, Motors Insurance, and the pinnacle GMAC Insurance? I remember hearing the hype about how they were going to sell to the auto product to all those auto customers…alas, it didn’t work, and they were forced to sell off their financial products in their deal with the devil, um, I mean the government…it sounds great on paper, but they weren’t patient to build the businesses properly, even though they had limitless potential. Maybe they should talk to some former leaders from the “good ole days”, when GM was number one and they were intent on being in the insurance business. I’m not saying this secret plan cannot work, but as someone pointed out…most successful insurers have engineers at the top…doh!

    • April 9, 2021 at 8:38 am
      gemman says:
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      Things are different at GM this time around. GMAC was purged because the US Government forced them to in the illegal restructure. If they can grow the business into a profit producer then they can marry it to a unified mobility purchased by the mile or period of time with set maximum and minimums. As it is now, consumers have 1) a car finance payment or lease, 2) car insurance, 3) warranty service from manufacturer, 4) 3rd party extended warranty, 5) fueling from multiple sources in multiple locations.

      Making the unified mobility vision work (excluding manufacturing) from easiest to hardest – finance, warranty service, insurance, extended warranty, fueling program. With EV’s fueling could be delivered much cheaper than with fossil fuels, but will still require a massive capex to get there. That is where Tesla has a lead, and who knows what Biden infrastructure gets passed in the coming months.

    • April 10, 2021 at 10:13 am
      Tom Murin says:
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      “Insurance, a new arena for GM….” Seriously, how short are their memories? Didn’t the author do any research? I worked for National General (GMAC Personal Insurance) for 5 years. There didn’t appear to be any synergy or leverage between GM on the auto insurance side of GMAC back then (I left in late 2007). They didn’t get an inside track on insurance sales in their dealerships, no way to nudge insureds’ to buy a new GM vehicle after a total loss, etc.



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