A massive shift is underway across the global automotive industry. Over the past few months, everyone from GM to Ford, Apple to Huawei has been making big moves towards a zero-emission & connected future of mobility.
As digital era takes over, the true potential of mobility has been unlocked against a global backdrop of vehicles virtually becoming computers on wheels. Globally, e-cars are changing the auto industry that has basically stayed unchanged since the German engineer Karl Benz invented the vehicle in 1885.
Today, cars can greet the drivers when they get in, take their voice commands and even alert…
The rise of UBI isn’t not just fueled by drivers saving more money on their auto insurance, but is also the result of rapidly evolving telematics, IoTs, and connected vehicles, which help insurers monitor driver behavior safely, securely, and accurately.
It has long been predicted that telematics and usage-based insurance (UBI) will enable risk pricing to be done in real-time, ushering the end of the annual renewable car insurance policy. 2021 looks like the year that will consign traditional auto insurance to the history books.
The pandemic changed everything, including auto insurance. The unchanging one-size-fit-all legacy model is no longer…
If you are wondering how much cars actually cost to run and maintain, don’t just look at the price tag.
Recent trends have been making cars more affordable in Europe. Research says that Europeans pay on average €27,500 for a new car, although prices vary significantly per country due to varying factors. The average car retail prices across Europe can range from ~€22,500 in Italy, ~€25,000 in Spain, ~€26,000 in France, and ~€32,000 in Germany.
Innovating in a new revenue landscape will build resilience into insurers’ business and product portfolios, and deliver a competitive advantage.
As the global insurance market heads towards a significant growth trajectory over the next 5 years, new and shifting revenue pools are expected. Insurers who are willing to migrate from traditional to technology-led offerings are better positioned to lead by better integrating with customer data. Resistance to the trend will mean losing revenues to digital-first competitors and new entrants.
Rising costs, volatile markets, and increasing consumer demand for digital services show no sign of abating. The industry is expected to embrace an end-to-end digital customer cycle.
Digital transformation isn’t a new topic in insurance, but coming on the back of a pandemic a lot has changed. Insurers are investing in digital technologies that will help them achieve their top three business priorities: enhance customer experience, improve the ability to innovate, and reduce costs.
According to Accenture’s 2021 analysis of economic and demographic trends on the insurance industry, and the revenue opportunities these trends create for insurers —
As observed by insurers and consumers alike, a decrease in driving has made usage-based insurance solutions like pay-per-mile coverage popular, pushing insurers to adjust their strategies to this new consumer demand.
Pandemic induced lockdowns that swept the world have created markets for newer auto-insurance products. A surge of interest has been observed in offerings that let customers pay auto insurance premiums only for the amount of driving they actually do. This accelerated demand for usage based insurance or UBI, and increased adoption of pay-per-mile and telematics is because a lot of people realized that they are not driving as much.
In addition to getting the auto industry closer to delivering a product that will truly assist autonomous driving, Vehicle-to-everything or V2X, is all set to change the way we drive, make transportation safer, reduce traffic congestion, and climate impact of vehicles.
As the automotive industry undergoes a series of transformations, thanks to accelerated digitization and connected mobility, conventional vehicles are becoming intelligent vehicles, equipped with advanced communications systems.
Vehicle-to-everything or V2X, has evolved into an integrated communication system for vehicles that is making a smart vehicle, which is always connected to its environment — a mainstream reality now. …
When buying a new car, don’t just look at the price tag. There’s maintenance, insurance, and the fuel cost per year to consider. We all know that these costs add up, but a few of us know exactly how much it really costs to own a car.
Cars are expensive. Most of us will evaluate all costs and understand our budget restraints when making this decision. But staying realistic is key to choosing a good deal. …
Onboarding is all about making sure that new teammates feel comfortable with their role, their team, and confident in their decision to work at your company.
Onboarding is the process of welcoming, educating, connecting, and acculturating new employees. Consider this, 91% of employees stay for at least a year when organizations have efficient onboarding processes. 69% of them stick around for at least three years where well-structured onboarding programs are employed.
Opting to improve the onboarding process gives new hires the incentive and motivation they need to succeed — and successful, happy employees are more likely to stick around. Satisfaction…
Big tech has made a dazzling entry onto the turf of legacy automakers by investing in technologies that have the potential to upend automakers’ business models. Electric vehicles, autonomous driving, connectivity, and shared mobility are challenging major OEMs to adapt to the fast-evolving consumer space.
Tech giants are now active in the automotive space at a momentous pace. With recent massive investments in startups across the auto and mobility sector by Amazon, Apple, Google, and Microsoft, their services are getting integrated across virtually every automaker. …