6 auto insurance predictions for 2021

With 2021 just around the corner and all of us wondering what's in store for auto insurance, here are some of the trends that I believe are likely to take hold of the sector in the year to come. The aftereffects of COVID-19 will continue to shake up the insurance industry. Customers will not only favor flexible service providers, but "modular" services - meaning those that they can pick and choose features from based on their needs or even their current financial standing. For auto insurers, this could translate into policies based on the actual mileage driven as opposed to the number of drivers, or even discounts for drivers that participate in ridesharing programs. Personalization will become the new normal for insurance. Relatively, the insurance industry is pretty far behind the pack in terms of the scope of applications to intelligently process or integrate real-time data.