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.

In the wake of the innovation called driverless cars, we looked into how driverless cars will impact the auto insurance industry. Technology has proven to be one of the blessings that are sharpening humanity and our existence. There is so much ease in the dispensation of our day-to-day activity and it is all thanks to the advance in technology we have enjoyed in recent times. The processes involved in carrying out some actions have been greatly eased and life is becoming less stressful. One of the many advances in technology that is being recorded in the 21st century is the manufacturing of driverless cars.

Jason Verlen doesn't see his work as a day job. Rather, he views it as more of a contribution to the upcoming groundbreaking technological revolution. As Senior Vice President of Product Strategy and Management at CCC, Verlen's team uses data mining and analytics to provide customers with modern tools to protect themselves before, during and after a vehicle collision. This passion and forward-thinking mindset is not out of character. Verlen earned a degree in computer science before most schools even offered the field of study.

Booming insurtech innovations are revolutionizing the way auto insurance is operating. FREMONT, CA: Insurtech startups are revolutionizing the way insurance is operating. The European insurtech industry has exploded in recent years, with several startups coming up with new products and services, easing the process of buying insurance for the consumers. Similar is the case of auto insurers, and startups are dramatically transforming this industry with innovative tech offerings. Here is more about the top innovations and ventures going after auto insurtech for the CIOs to eye on. Telematics device can record information about driving behavior pertaining to the speed of driving and the distance covered.

Cloudera, Inc. (NYSE: CLDR), the modern platform for machine learning and analytics, optimized for the cloud, announced that Octo Telematics, a global leader in telematics for insurance companies, is introducing innovations for insurance by aggregating 186 billion miles of driving data from connected cars and using Cloudera Enterprise to predict and model driver risk. Utilizing machine learning and analytics on Cloudera Enterprise, the Octo Telematics platform can now deliver actionable insights and risk modeling to over 100 insurance companies worldwide that enables them to transform insurance including pricing, First Notice of Loss (FNOL), and claims insights. Octo Telematics' platform, built on Cloudera Enterprise, aggregates over 11 billion new data points from 5.4 million connected cars and sensors daily, creating one of the largest connected-car subscribed installed bases across the globe. Every relevant type of data--contextual data, driving data, behavioral data, and crash data--is utilized to forecast individual driving habits, improve crash notifications and response, evaluate crash dynamics, and detect fraud. "At Octo Telematics, we are using the power of IoT data analytics to transform the auto insurance industry and essentially be there for people at the moment they need help. With Cloudera, we use IoT and machine learning to drive intelligence and predict outcomes from billions of miles of driving data, and over 438,000 severe crashes from over five million cars – the largest connected-car subscribed installed base in the world," said Gianfranco Giannella, chief operating officer at Octo Telematics.

December 14, 2016 – The autonomous vehicle market is widely predicted to disrupt the auto insurance industry unless insurance companies can find a way to adopt to the challenges ahead. If providers can find solutions to be a part of the autonomous surge then the results could be hugely lucrative. Shop Insurance Canada says a recent report about the growing autonomous industry should highlight why insurers must adapt and be a part of the growth. An autonomous market related to mobility and connectivity will develop over next 14 years, suggests KPMG. Indeed, a new "mobility services market" will grow to be worth well over US$1 trillion globally by 2030 says the research company.