The distracted driving epidemic, and its impact on highway accidents and the cost of auto insurance, continues to be all over the news.
A 2016 underwriting loss of $7 billion for State Farm’s auto insurance business, announced earlier this week, prompted the latest wave of headlines (see Bloomberg report).
Smartphones and gadgets and screens installed in new cars are two major sources of distraction, the Wall Street Journal recently reported.
While technology is part of the problem, it is also part of the solution (see earlier T+C post). A number of insurers are already partnering with technology companies to offer solutions to prevent distracted driving.
Digital Insurance features some of the latest technologies introduced by insurers here. The list includes a distracted driving simulator brought into schools as part of Arbella Insurance’s Distractology program, as well as apps that integrate with usage-based insurance programs to curb distracted driving (see here and here).
An Insurance Information Institute (I.I.I.) white paper on how more auto accidents and larger claims are driving costs higher is available here.
I.I.I. advice on how to keep your auto insurance affordable here.