Personal auto

Observable real-time data for October show an estimated decline in auto accidents of 7%. This compares to initially hit months of March and April at 32% and 51% respectively.

The electric car manufacturer had earlier marketed the policy with an Elon Musk exclusion.

The carrier is expected to garner the highest IPO valuation of any InsurTech to date, overtaking Lemonade’s $1.6bn debut price tag.

Observable real-time data for September shows an estimated decline in auto accidents of 11%.

Every month we measure observable changes in auto accidents by compiling data from real-time state traffic accident databases.

Geico’s combined ratio came in at 77.2% down 18 points as frequency fell 24% to 30% across all product lines.

The car maker says it will file for regulatory clearance for the new insurance solution imminently.

The insurer is set to return around $80mn to customers under the scheme.

The deal marks the MGA’s first foray into assuming underwriting risk.

May CPI data included another downward spike in auto price inflation driven by declines in accident frequency, with countrywide lockdowns related to Covid-19 leading to rebates.

The company, which shelved tentative IPO plans last year, said the offering is subject to market conditions.

Root grew gross written premiums by 85 percent in Q1 to $144mn, according to statutory filings.