Verifacto Inc.’s Post

Headline: Soaring Auto Insurance Costs? We Can Help. Is your #business feeling the pinch of skyrocketing auto insurance premiums? You're not alone. Inflation is driving up the cost of repairs, parts, & even labor. More expensive vehicles multiplied by distracted driving is causing traditional insurance policies to become cost prohibitive. At Henriott, we understand that a one-size-fits-all approach doesn't work anymore. We offer innovative risk management solutions beyond traditional insurance, including: - Self-insurance & Alternative Risk Financing Options: For qualified clients, self-insurance can provide greater control over costs. - Captive Programs: Explore forming a captive insurance company or joining a group captive to share risks with similar businesses, and potentially earn premium returns. - Risk Management Programs: We can help you develop targeted loss prevention & control programs & navigate the benefits of alternative #InsurTech solutions like #telematics, to manage your risk profile effectively. Don't settle for sticker shock! Our team of risk management experts can help you explore creative solutions to fit your specific needs & budget. #inflation #autoinsurance #riskmanagement #insurance #captiveinsurance #selfinsurance https://lnkd.in/dBNDX7pj

Informed decision-making has never been more important in the increasingly volatile auto insurance industry. Do you have the right tools in your arsenal? These three simple, data-driven strategies can help your organization adapt underwriting processes in real-time, improve quote-to-bind ratios and boost profitability. Here’s how you can take your business to new heights: 

Personal auto insurance underwriting profitability appears to finally be headed in a positive direction after recent years of record underwriting losses. But while these gains show improvement, it will likely take time for them to be reflected in flattening premium rate, according to the Insurance Information Institute (Triple-I).

Every challenge is also an opportunity. Right now, the auto insurance sector is facing plenty of challenges. This article looks at the major challenges and shows how carriers, TPAs and self-insured fleets can come out ahead. https://hubs.ly/Q02GQ85l0

🚗 Auto Insurance Rate Surge: What You Need to Know & How to Save 🚗 According to recent Consumer Price Index data, auto insurance rates have surged by 21% year-over-year. Why the Spike? 💥Insurance Business Cycle: Insurers faced large losses in 2022 and 2023, prompting rate hikes. 💥Supply Chain Issues: Post-pandemic shortages led to increased vehicle prices, raising premiums. 💥Rising Repair Costs: Modern vehicles' sophisticated systems mean higher repair costs. 💥Social Inflation: Increased litigiousness and larger tort awards inflate insurance losses faster than consumer inflation. 💥Driving Behavior: Distracted driving and more frequent accidents contribute to higher rates. With auto insurance becoming less affordable, what can you do to manage your premiums? 💡 Increase Deductibles: Retaining more risk can reduce your premium. 💡 Safe Driving Discounts: Take advantage of discounts for good driving behavior. 💡 Shop Around: Compare rates from different insurers to find the best deal. Stay informed and take proactive steps to manage your insurance costs! #AutoInsurance #InsuranceRates #ConsumerAdvice #CostSavings #FinancialPlanning https://lnkd.in/eESAi3Hh

As auto insurance premiums continue to skyrocket, many people are wondering why? Read on to find out why car insurance rates are going up so much and what you can do to help your own insurance bottom line. https://lnkd.in/dHjMB5mh #risingcarinsurance #currentautoinsurancerates #carinsurancediscounts

NEW BLOG 📣: The insurance market is highly competitive, with rates varying significantly between providers. Our latest blog post, "How to Compare Side-by-Side Home & Auto Insurance Rates," discusses how by comparing rates from multiple insurers, you can potentially uncover substantial savings. Our short guide will walk through the process of comparing home and auto insurance rates side-by-side, empowering you and your employees to make informed decisions that could potentially save hundreds, if not thousands, of dollars annually 💸 Get started with BenefitHub's online tools today, and learn more below: https://lnkd.in/gWKUg9fe

Check out this article in Insurance Journal on auto insurance shopping and key trends featuring information from our recent LexisNexis® Insurance Demand Meter issue as well as timely insights from Adam Pichon, senior vice president, LexisNexis® Risk Solutions. https://splr.io/6045YsAjB #insuranceshopping #insurancenews

Auto insurance isn’t like most consumer products. You can’t see it or touch it. It’s a service, sure, but one that you hope you never have to use.. So how do we, at Sigo Seguros, separate ourselves from our competitors? With hard work and high standards. For consumers, auto insurance is a necessity that’s become a commodity. It has value, but is mostly indistinguishable from product to product. For insurance companies, it’s a promise to provide support when it’s needed. It's our commitment to quality that makes the difference. This ensures that what we offer is more than a commodity. It's a commitment to our customers' well-being. We push ourselves to excel. Not just in what we sell, but in the service we provide. We hold ourselves to a standard of continual improvement and exceptional customer experiences. We're not here to do business as usual. We're here to: • Excel • Innovate • Ensure that every promise is kept. Sigo Seguros is where promises and performance go hand in hand. Follow me Nestor Hugo Solari to learn more about insurtech.

When it comes to auto insurance, one question that often pops up is whether the premium is paid in advance. The simple answer is yes. But why is this the case? And what implications does it have for policyholders? Let’s take a closer look. #RF1Insurance #autoinsurance https://lnkd.in/gC-WgFGA