As innovation is reaching new heights with linked and autonomous vehicles, the auto insurance industry is also experiencing its own evolution, using technology to enhance just how road accidents and damages are handled, saving people money and time and increasing the often stressful encounters of handling the aftermath of accidents.
A change is seriously required in the insurance industry.
In addition to poor customer experience when coming up with claims, some $25 billion goes unaccounted for each and every year due to adjuster costs, fraud, delays in repair shops and more.
Insurers — like some vehicle companies now do — need to consider themselves as technology organizations, embracing more AI and data, and also more seamless customer experiences. This is especially importance since insurers will probably have an even deeper relationship with automakers once cars can drive autonomously, at which point the auto company takes responsibility if there is an accident.