: Retention rates dropped to 78% by 2025, leading to a 22% increase in policy churn as consumers seek lower rates.
: Over 45% of active policies were shopped at least once in 2024, the highest rate ever recorded. auto*insur
Insurers are increasingly relying on data and AI to refine underwriting and claims. : Retention rates dropped to 78% by 2025,
: Specialized systems like LexisNexis ALIRtS help carriers automate mandatory liability reporting to state DMVs to keep up with shifting regulations. auto*insur
Changes in vehicle technology and driver habits are fundamentally altering risk profiles.
Carriers must comply with evolving state and national mandates.
: Real-time data analysis and telematics are transforming pricing models to align premiums more closely with actual driving behavior.