Self-driving cars were a fascinating idea when we were kids, but it seems to have become a scary one these days, as many people are nervous at the thought of such vehicles. They don’t seem to trust a computer to take care of their safety. But there are also people who couldn’t be more thrilled with the thought of artificial intelligence making car insurance a lot easier. Among a lot of other things, technology has been changing the insurance landscape as well. Technology made its way into the insurance industry Technology was always important in the insurance industry, and companies used it to enhance their ways of doing business. Insurance is a risk-based business because the more data a company gathers on someone, the more accurately they can tell what kind of risk that person represents. This is the reason for which a lot of car insurance companies started to use advanced tech tools to help track their customers. Such tools are materialized in a device that plugs into … [Read more...] about Car insurance business gets useful capabilities with the help of AI and machine learning
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Jonathan Oosting Detroit News Lansing Bureau Published 4:13 p.m. UTC Jun 6, 2018 A series of new billboards in Detroit aim to jump start stalled auto insurance reform talks in the Michigan Legislature by sarcastically thanking lawmakers for sky-high rates. “Thanks, Lansing!” declare the advertisements, which promote a “driver’s choice” auto insurance reform plan similar to the one backed last fall by Detroit Mayor Mike Duggan. The legislation was rejected in the Republican-led House amid opposition from most Democrats. An advertisement at Adelaide and Gratiot near Detroit’s Eastern Market features a resident complaining his car insurance costs more than his car payments. Another compares rates in Chicago and Detroit, routinely cited as one of the most expensive cities in the nation for auto insurance. The billboards are paid for by Detroiters for Change, a non-profit that is not required to disclose donors and has ties to … [Read more...] about Thanks, Lansing: Billboards mock high auto insurance rates
Does Tesla's Autopilot software have something against the emergency services? That's a flippant question, but there's something underneath it. On Tuesday, a Model S electric vehicle—with Autopilot engaged, according to the driver—crashed into a police car in Laguna Beach, California. The police car was unoccupied at the time, but the Tesla driver sustained minor injuries. Last month, another Model S, also under Autopilot, slammed into the back of a stationary fire truck in South Jordan, Utah, resulting in a broken ankle for the Tesla driver. And in January, a third Autopiloted Model S plowed into the back of another fire engine, this time in Culver City, California. Probably best to forget the conspiracy theories though. It's not some bug with Autopilot's sensors and flashing lights—more like inattentive drivers who should be paying attention to the road. As we learned last year, automatic emergency braking is only trained to work in a relatively narrow set of cases, … [Read more...] about Autopilot blamed for more crashes, Tesla insurance rates skyrocket
You’re on an overseas trip and about to rent a car. You decline the additional insurance offer and mentally high-five yourself for saying no because your credit card offers primary rental coverage.Not so fast, smarty-pants.Although the Nerds are generally fond of credit cards that offer some form of auto rental insurance, be aware that even if you have primary coverage via your card, you might still want more, especially when traveling internationally. Here’s why. Understand your coverage Several credit cards offer primary rental coverage as part of their cardholder benefits, which means the card would pay out first in the event of an accident and you could avoid involving your own auto insurer.But that may not be what the rental car agent is offering with your rental agreement. You might be asked to opt for a collision damage waiver, or CDW (also known as a loss damage waiver). If you elect this option, and your rental car is … [Read more...] about Declining rental car insurance abroad? Know the risks
Ever drop and shatter the screen on your smartphone? Your precious? Your portal of connectivity to all things social? Ever wear out a camera module from addiction to taking pictures of every meal you make, and every cat you encounter?Back in the days when I was a retail rep for one of the major wireless carriers, it was always a priority to offer mobile insurance with every new or upgraded phone. You know the drill, an extra $7-10 per-month would provide the peace of mind should the unthinkable happen to that mini-computer you just bought. Yes, there was incentive to sell the feature, but by-and-large, the service works with little undue drama should the unthinkable happen, and coverage was immediate.More than a few times, a customer would reject the offer, and not get across the parking lot before dropping their brand-new flagship on the pavement, effectively destroying the display or causing some other unseen damage. With tears in their eyes, some would beg for an accommodation, an … [Read more...] about Mobile phone insurance versus repairs – how do costs add up?