Insurtech Grabs $5 Million in Funding For Autonomous Vehicle Coverage
Posted on Jan 31, 2019 in Technology Impacting Auto Insurance | Comments Off on Insurtech Grabs $5 Million in Funding For Autonomous Vehicle Coverage
A startup focused on rewarding drivers and fleet owners that use autonomous vehicles and semi-autonomous car safety features has raised $5 million in seed funding. California-based Avinew’s technology uses artificial intelligence and telematics to gather driving data that can tell when a vehicle is in autopilot mode or is using advanced safety features. That data can then be used by...
BlackBerry Buys Cylance for $1.4 Billion
Posted on Nov 19, 2018 in Technology Impacting Auto Insurance | Comments Off on BlackBerry Buys Cylance for $1.4 Billion
BlackBerry Ltd. executed a $1.4 billion purchase of California-based cybersecurity company Cylance, which further illustrates how tech companies are involving their operations in the autonomous vehicle space. Under John Chen, BlackBerry has shifted to selling software to manage mobile devices, as well as systems in driverless cars. The company’s QNX software allows carmakers to offer a...
Study Finds Americans Still Wary of Autonomous Vehicles
Posted on Mar 2, 2018 in Industry News, Technology Impacting Auto Insurance | Comments Off on Study Finds Americans Still Wary of Autonomous Vehicles
In a recent Gallup poll, nearly 60% of the more than 3,000 survey participants said they would be uncomfortable riding in an autonomous vehicle. Survey participants were even more reluctant to share the road with driverless trucks, with nearly 70% stating that they would be uneasy. The responses varied by age, with those over 66 least likely to accept autonomous vehicles. Nearly 70% of...
Senate Commerce Committee Holds Hearing on Auto Innovation
Posted on Jan 25, 2018 in Industry News, Technology Impacting Auto Insurance | Comments Off on Senate Commerce Committee Holds Hearing on Auto Innovation
This week, the Senate Committee on Commerce, Science and Transportation held a field hearing on “Driving Automotive Innovation and Federal Policies.” Chairman John Thune gave the opening statement, stating that automated vehicles and new business models, driven by technological advancements, are “poised to enable substantial growth.” Chairman Thune pointed to...
D.C. Department of Insurance to Hold Public Hearing on Insurance Premiums
Posted on Jan 24, 2018 in Insurance Developments and Trends, Insurance Regulation, Technology Impacting Auto Insurance | Comments Off on D.C. Department of Insurance to Hold Public Hearing on Insurance Premiums
On January 30, 2018, the D.C. Department of Insurance, Securities, and Banking is expected to hold a public hearing to cover a variety of issues impacting private auto insurance, including topics like price optimization and the use of credit scores in underwriting. More broadly, the hearing is intended to examine the causes of recent increases in auto insurance premium rates in D.C.,...
Some Predictions for Auto Insurance in 2018
Posted on Jan 8, 2018 in Technology Impacting Auto Insurance | Comments Off on Some Predictions for Auto Insurance in 2018
The CEO of telematics company TrueMotion recently predicted that 2018 would see some changes in the auto insurance industry. He predicts that customer experience will become paramount for insurance companies, likely meaning a change in claims, among other things. Carriers will increase their use of usage-based insurance and mobile telematics. And “consumers, regulators, and insurers”...
