Changing Nature of the Modern Vehicle

Farmers Insurance Mariel Devesa
Head of Product Innovation, Farmers Insurance

Ptolemus Frederic Bruneteau
Managing Director, Ptolemus

USDOT/FHWA Allen Greenberg
Senior Policy Analyst, USDOT/FHWA

The Floow Aldo Monteforte
CEO, The Floow

The uptake of new mobility models and new tech. will mark a clear transformation of the frequency of vehicle usage. How will the insurance industry respond?

  • Study the new models of transportation (e-hailing, car sharing fleets, P2P car rental) and the flexibility of insurance coverage needed (i.e. episodic, intermodal) to stay relevant
  • Factor in how mobility models are increasing individual vehicle usage to assess the impact on underwriting. Consider distance covered, hours driven and the frequency of repairs required
  • Investigate how UBI tech. and processes (i.e. OBDII dongle, predictive data analytics, risk profiling) could be integrated with primary and excess insurance products

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