A LOOK AT THE TYPICALTEEN-DRIVER CRASH

| March 14, 2019

article image
Did you know that teen crashes tend to be different than crashes for most other drivers? They're more frequent, too. Teens have the highest crash risk of any age group per mile traveled. The list below shows risk factors observed in fatal crashes among 16-year-olds. And there's no denying it – it's scary. But there's good news, too. Many involve controllable choices that can tip the odds in your teen's favor. Here are some areas to watch: DRIVER ERROR.  Compared with older drivers' fatal crashes, those of 16-year-olds more often involve driver error, often on two-lane curving roads, with narrow shoulders. DISTRACTIONS IN THE CAR. With smartphones, texting, loud music, eating food, applying makeup or just taking eyes off the road, it's no wonder why distracted driving is a growing cause of teen crashes. SPEEDING. Sixteen-year-old drivers have high crash rates in which excessive speed is a factor.

Spotlight

LV= Broker

Brokers are at the heart of our business. Our ambition is to be recognised as the best insurer for brokers, the insurer you most trust and the relationship you most value.

OTHER ARTICLES

What is the Expense Ratio for an Insurance Company?

Article | February 24, 2020

Providing financial security to its consumers is the ultimate aim of an insurance company. However, sustaining its own capability to finance its customers becomes its priority. To measure the financial sustainability, insurance companies use various different methods and techniques. Among them, the Expense Ratio serves as the ideal measure providing clarity on the logistics. Signifying the efficiency of an insurance company and measuring its profitability, the expense ratio gives a clearer picture of the financial aspects of the company.

Read More

3 MODERNIZATION OPTIONS FOR INSURERS

Article | February 24, 2020

The global outbreak of coronavirus has exposed an unpleasant truth: many insurers are stuck with legacy systems that prevent them from offering seamless digital experiences to their customers and/or employees. Even more damaging, they can’t lower operating costs at a time when claims are climbing, and margins are disappearing. This isn’t a momentary problem. As bleak as things seem at the moment, one day this crisis will be over…and property & casualty (P&C) providers will still seek to modernize to remain competitive. Reconciling this seemingly contradictory mission – how can an insurer reduce operating costs while providing a better experience?

Read More

How AI will improve CX in insurance

Article | February 24, 2020

How many times have you called customer service expecting a quick answer, but were instead passed around to a number of different people who didn’t have your full story, forcing you to repeat yourself unnecessarily? And how many times did this lead to a much longer-than-expected resolution? We’ve all experienced this at least once and as a result, we understand the importance of streamlining experiences to keep customers happy. It begs the question: How can you deliver an experience that doesn’t leave customers running for the hills?

Read More

7 Business Models of the Future for Insurers

Article | February 24, 2020

The insurance industry continues to be an enabler of innovation. Since its creation three centuries ago, it has become an essential part of the global economy — providing security and resilience to businesses and individuals alike. But the fundamentals of how it operates have barely changed. As we enter a new decade, the industry must reflect the reality of the needs of today’s businesses and society. Large commercial insurers and reinsurers, in particular, have an increasingly urgent imperative to realign their organizations and modify their offerings to include stronger preventive services against new and evolving threats, including climate change and cyber risk. There is a huge opportunity. Our latest NextWave Insurance report reveals that, should the industry act now, an unprecedented growth and profitability spike is within reach. By 2030, we project that large commercial insurers and reinsurers could experience:

Read More

Spotlight

LV= Broker

Brokers are at the heart of our business. Our ambition is to be recognised as the best insurer for brokers, the insurer you most trust and the relationship you most value.

Events