Report Finds Auto Insurance Premiums Could Fall by 30 Percent

Report Finds Auto Insurance Premiums Could Fall by 30 Percent

The report finds that changes in mobility will likely “reduce, reallocate or eliminate a substantial amount of today’s insurance premiums.”

auto-insurance

Property Casualty 360 published the recent findings of a report from Deloitte Consulting LLP that predicts the evolution of customers and products will transform the current passenger automobile insurance industry.

The report, “Insuring the Future of Mobility: The Insurance Industry’s Role in the Evolving Transportation Ecosystem,” finds that changes in mobility will likely “reduce, reallocate or eliminate a substantial amount of today’s insurance premiums.” The report projects that over the next 25 years, total auto insurance premium need may decline by up to 30 percent.

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