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.

Lemonade added a preventative pet insurance package for younger pets amid strong premium growth—but we expect the insurtech to prioritize providing one-stop-shop insurance coverage

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.

This is on top of existing rewards offered by both cards, like QuickBooks integration, rental car insurance, and the ability to spend above the credit limit depending on factors like credit record and payment history.

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.

In Q2 alone, B2B insurtech Cambridge Mobile Telematics acquired True Motion to work with 21 out of the 25 largest US auto insurers and reach 20 countries. And Metromile and Hippo partnered to offer consumers a bundled auto and homeowners insurance product.

Insurify’s mega-round came on the back of strong revenue growth—adding new insurance lines and embedded partnerships should power further growth.