Auto insurers’ $18 billion in premium refunds couldn’t offset poor communication ratings—insurers will likely invest in digital communication tools to fuel more effective interactions.

Leading US insurtechs Metromile and Hippo are collaborating on a discounted auto and homeowners insurance bundle. This will help the insurtechs better compete in the US’s crowded P&C market.

Auto insurance customers shopped around more than ever amid the pandemic, causing a 3% increase in their migration to the five biggest US insurers—here are two ways insurtechs can fight back.

Demand from insurers could further increase to counter customers’ stagnant auto insurance satisfaction, which is based on factors like claims. The insurtech is moving deeper into property insurance, which desperately needs to be digitized, and its existing partners could help its solution stand out. Visual inspections of property damage are rare, but technology could make them more common.

US insurance giant Geico has selected Tractable to expedite its repairs assessment and claims processing. This marks a big win for Tractable that the UK insurtech will likely seek to repeat with additional US incumbent partnerships.

The insurtech’s broadened offering aims to provide users with a one-stop shop for insurance needs. The Zebra initially focused on auto insurance with its real-time quote comparison tool, teaming up with the top 10 auto insurance carriers in the US. It has since evolved its product to include homeowners insurance and aims to launch renters and life insurance options in the future.

Presenting customers with a range of coverage options will boost satisfaction, and this partnership reflects Nationwide’s insurtech ecosystem strategy, which we will see replicated in the wider US insurance market.

Clearcover is growing fast thanks to its use of tech to automate insurance processes and remove friction from the customer journey. The pandemic has pushed consumers to purchase auto insurance online and seek more personalized and fairer-priced policies.

Flock, a startup that offers on-demand drone insurance, meanwhile, has embedded its service into nonfinancial companies’ platforms, including air patrol company HeroTech 8 and drone manufacturer Microdrones. POS insurance. One example in this category is US-based insurtech Salty, which partners with car dealerships to bake its insurance product into car sales transactions.

Meanwhile, ONE was launched in 2018 and is the group's customer-facing business: It has 500,000 active policies and 350,000 customers, and provides household, auto, and liability insurance. The raise will support wefox’s ongoing growth by bolstering its tech developments.

Along with its main platform, which connects brokers to customers, wefox offers coverage in household, auto, and other areas through direct-to-consumer insurance products. As a licensed carrier in Liechtenstein, wefox can take advantage of passporting rights across the European Union and looks to build up its presence in five markets.