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On-Demand Insurance

The on-demand culture has been rapidly growing over the past decade. Groceries, car rides and dinners can all be purchased and promptly delivered with the touch of a button and insurance is catching up. At the 2019 Pinnacle U event, we presented on the topic of on-demand insurance and what its future may hold. We partnered with Noah Sierer, an Illinois State University student, to provide examples of current insurers and the market’s potential.

The Evolving Role of AI in Insurance
Multiple June 06, 2019 Posted in: Blog Posts, Pricing & Product Management
Today, insurance is more competitive and more accurately priced because of better data, computing power, customization and emerging technology. Lytx (formerly DriveCam) records 30 seconds before and after a crash. These recordings can be used to prove innocence or guilt in most cases, saving insurance companies millions in litigation costs. The insurtech boom caught many insurance companies off guard. When they did not adapt quickly enough, they lost a significant portion of their competitive position. New approaches to claims adjusting, premium pricing and underwriting will continue to arise. The best chance insurance companies have to remain relevant is to develop unique technologies and rating variables to outprice the competition.
Trent Goughnour

Insurance Telematics USA 2015

When Will We See Real Adoption in the US?

Insurance Telematics USA 2015
Trent Goughnour September 28, 2015 Posted in: Blog Posts, Predictive Analytics, Telematics / UBI
This year at the Insurance Telematics USA conference in Chicago, Illinois, there were a variety of presentations regarding the future of telematics, potentials for the devices, smartphone apps, data, and how Usage Base Insurance (UBI) is evolving in the US. The over-arching theme of many presentations centered on adoption, or rather, the slow adoption seen in the US and what can be done to increase acceptance. The insurance industry is focusing more attention on increasing UBI adoption, and statements like “UBI is just around the corner” were repeated throughout the conference. In spite of this, wide adoption seems elusive in the US.
2015 Insurance Telematics USA Conference
Katey Walker September 01, 2015 Posted in: Blog Posts, Telematics / UBI
Each year, Pinnacle attends a number of trade shows and conferences. Each one provides us with an opportunity to broaden our experiences and knowledge, connect with colleagues, and meet new friends, partners, and associates.
Auto Insurance Digitization: Is Your Company Behind the Times?
Michael Chen August 31, 2015 Posted in: Blog Posts, Telematics / UBI
Our team of predictive analytics and telematics experts are truly excited to visit with attendees of the upcoming Insurance Telematics USA conference, September 2 – 3, at Chicago’s Radisson Blu Aqua Hotel. Please join us at booth #9, and allow us the opportunity to explain how Pinnacle and our strategic partner, Driveway Software (exhibiting at booth #11), can work to find an effective and innovative UBI solution for you.

I’d like to share a post from Driveway Software’s co-founder, Jake Diner, looking at auto insurance digitization. Enjoy Jake’s thoughts and be sure to visit booth #9.
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