Berkshire Hathaway Chair Warren Buffett said he isn’t worried about recent assertions by Tesla Chief Executive Elon Musk that the electric car maker could offer a more compelling insurance product than traditional auto insurers. “The success of the auto companies …
Insurer Progressive said it expects to hire more than 10,000 people in the coming year to support its growth. Positions will include IT and analyst roles, corporate functions, customer care and claims roles. The Ohio-headquartered company has grown more than …
With much of the property/casualty insurance industry’s attention focused on external threats from insurtechs and digital native companies, perhaps the greatest disruption is coming from within. Following the last decade of impressive growth driven by direct-to-consumer providers, Progressive heads into …
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 …
A fourth major auto insurance company in New York has reached a compliance agreement with the New York Department of Financial Services (DFS) regarding DFS’ final regulation against discriminatory auto insurance rates. Progressive has informed Financial Services Superintendent Maria T. …
A Maine state senator is looking to protect senior citizens in the state from having car insurance rates go up because of their ages. Sen. Bill Diamond, a Windham Democrat, says his bill follows up on insurance giant Progressive’s attempt …
Google Compare is using a rating system provided by Insurance Technologies Corp., the Carrollton, Texas-based software provider announced Wednesday. In making the announcement ITC’s top executive said it’s a move that will keep agents involved in the online search for …
Progressive Corp., the fourth-largest U.S. auto insurer, said it will begin increasing rates for some risky customers who participate in a program that allows the company to electronically monitor driving habits. The decision to lift premiums is a shift for …
The way Valen Analytics President and CEO Dax Craig describes it, Google’s move into insurance with Google Compare for auto insurance is an “all-aboard, wake-up-and-smell-the-coffee” call to the insurance industry. His words were simpler: “Game changer.” The complexity of what …
At a time when the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. Some insurers are using developments such as telematics, or social …
