A new study from MarketWatch suggests that Tesla’s pioneering use of advanced telematics in assigning insurance risk may disrupt the insurance industry as much as the company has already disrupted global automotive markets. While many traditional insurance companies are raising rates for Tesla car owners or refusing to cover Tesla … [continued]
The insurance industry survives and thrives on two things: its ability to quantify risk and then its ability to profit on it. Whether talking about home insurance, car insurance, life insurance, or some other kind of insurance, the first step is to do the math of how likely it is … [continued]
Who has the most power in America? Oil companies? Political parties? Elon Musk? Nope, nope, and nope. The correct answer is insurance companies. Insurance keeps the economy humming. Every new home, school, and commercial building, every airport, farm, or sports stadium is 100% dependent on being able to get insurance. … [continued]
Whether you own a home, a business, or other assets, insurance is an important part of any budgetary calculation involving protection of property. While the insurance and reinsurance sector are at the forefront of translating weather and climate information into financial and societal risks, the industry’s focus has been on … [continued]
Want to run a robotaxi in Seattle? You’ll need $5 million in insurance!
Since Tesla launched its own insurance service in California nearly two years ago, the automaker has expanded the program across several U.S. states. Tesla recently expanded the insurance plan to its 12th U.S. state, and it says it eventually plans to expand to all 50 states. Tesla’s insurance plans recently … [continued]
In a signal that Environmental, Social and Governance (ESG) issues are becoming more and more critical in the finance sector, the Indian finance ministry is working to complete an ESG rating for the Life Insurance Corporation of India (LIC). India’s largest institutional investor is planning to list with an initial … [continued]
General Motors plans to launch an algorithm-based auto insurance plan by the end of Q1 2022 in select US states, Reuters reports. The insurance plan will charge policyholders based on their driving performance according to a company executive interviewed by Reuters. GM’s subsidiary, OnStar, has asked for regulatory approval for … [continued]
Tesla Insurance has been expanded to Arizona and Ohio. This is something that Sawyer Merritt, who was recently interviewed by Dave Lee, predicted. In December 2021, Sawyer Merritt, who is well known in the Tesla Twitter community for sharing breaking Tesla-related news, shared that he was told by a source … [continued]
In Part 1, I explored the problem of high insurance rates for EVs, and the problems that can come with giving insurance companies even more data. Long story short, there are life-and-death level privacy risks that come from having your personal data out there, the data isn’t as good as … [continued]
