auto insurance market News

Direct-to-Consumer Auto Insurers Grabbing Market Share

Direct-to-consumer auto insurers appear to be gaining serious market traction, according to a report from J.D. Power. The firm reports that auto insurance revenue hit $245 billion in 2018, reflecting industrywide growth of 6.2 percent. But 54 percent of those …

Big 3 Drive Personal Auto Insurance Recovery; Signs of Rate Hike Fatigue Ahead

Steady improvement for U.S. personal auto insurance companies has culminated in the sector’s best underwriting performance in 10 years, according to Fitch Ratings in a report. The market improvement was driven by the three biggest auto insurers. The U.S. personal …

Auto Insurers Turn to Improving Digital Experience as Competition Intensifies

The battle among auto insurers to win and retain business is as heated as it has ever been. A combination of record-low volumes of new insurance shoppers, consistent price competition among insurers and emerging “insurtech” disruptors on the horizon have …

Nationwide Eyes Growth in New Jersey Auto Insurance Market

Nationwide Mutual Insurance Company has begun selling its Nationwide-branded auto insurance in New Jersey this month for the first time since 1981. “So we’ve been writing business now for about two weeks and so far, so good. It’s obviously very …

Nationwide to Re-Enter New Jersey’s Auto Insurance Market

New Jersey Department of Banking and Insurance Commissioner Ken Kobylowski said today Nationwide Mutual Insurance Company has been approved to write auto insurance in New Jersey, and the company will begin offering auto policies in August. Nationwide left the New …

Allstate’s Esurance Hopes Bundling Auto, Home Coverages Will Separate It From Geico

Esurance, the online car insurance seller owned by Allstate Corp., is betting that bundling auto and home policies will help it compete with Berkshire Hathaway Inc.’s Geico unit and Progressive Corp. Esurance started underwriting homeowners coverage in Wisconsin and plans …