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Future-Proofing Your Auto Insurance Risk Analysis Modeling - Get the Whitepaper

The automotive industry is running parallel races toward fully electrified and fully autonomous vehicles, and both races have a deceptively close finish line. EVs will become the norm within 10 years due to a combination of government legislation and manufacturer mandates – Progressive estimates that EVs could comprise 40% of car sales by 2030. Vehicle autonomy, meanwhile, remains a top priority for OEMs as well, with the market projected to reach $200 billion by the end of the decade. Mercedes-Benz is already certified for Level 3 autonomy, a standard that encompasses conditional hands-free driving, suggesting that Level 5 (totally automated driving) is a feasible goal for automakers more quickly than initially anticipated.

The technology involved in developing electrified, autonomous vehicles will not be universal; each feature package will have its own unique benefits, drawbacks, and relationship to road conditions and driver capabilities. Consequently, auto insurers cannot treat “ADAS” or “EV” as monolithic or even loosely segmented variables in their risk analysis; all levels of the organization must have a comprehensive understanding of their car’s technology stack to maintain a balanced risk-to-rate ratio. 

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Topics: VIN, Insurance

The Cost of Electric Vehicle Ownership

In a previous article, we discussed some of the key components of EVs and how they differ from the makeup of traditional internal combustion engine (ICE) vehicles.

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Topics: Electric Vehicles

The Key Components of an Electric Vehicle

EVs continue to change the landscape of the auto industry at a rapid pace and many questions arise for consumers and businesses alike. In our previous EV article, we covered the topic of EV charging and charging infrastructure, one of the biggest factors in the adoption of EVs. As a follow-up, we thought it would be helpful to address some of the key components of an EV, as well as some of the ways in which they differ from their internal combustion engine (ICE) counterparts. 

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Topics: Electric Vehicles

Pattern-Level vs. Option-Level VIN Decoding: Which Does Your Business Need?

VIN Decoding solutions offer multiple levels of information for vehicle inquiries. Pattern-level VIN decoding provides information from the World Manufacturer Identifier (WMI), Vehicle Descriptor Section (VDS), the vehicle’s model year, and production plant. Option-level VIN decoding includes the serial number of the specific vehicle and often presents “as-built data” from the Original Equipment Manufacturer (OEM), such as installed options and packages, as well as the exact exterior and interior colors.

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Topics: VIN

EV Charging: Everything You Need to Know

Electric vehicles (EVs) are continuing to grow in popularity due to their environmental friendliness, cost savings, lower maintenance, and improved performance. However, one of the greatest obstacles holding back the worldwide adoption of EVs is infrastructure limitations for charging stations, especially in the U.S.

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Clear and Actionable Vehicle Data is Now Essential for Auto Insurers

Traditional risk models in the auto insurance space incorporate multiple data points, including vehicle details, the driver’s safety record, the vehicle’s geographic location, and that location’s associated weather patterns. While these factors may be weighed differently by each insurer’s model, the entire auto industry is now facing the reality that increased vehicle complexity will force a significant change to risk analysis. 

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Topics: Automotive Data, Insurance

VIN Decoding 101: Everything You Wanted to Know About VINs

This post has been republished with updates since its original publish date of November 2011

As you might expect we get a lot of questions about VINs.  There is a lot of confusion about what a VIN is, how is it used, what information is captured within it and what is not.  In this series we hope to provide a good resource that you can use to educate yourself on Vehicle Identification Numbers (VINs) and VIN Decoding.  The articles will progressively build from very basic and general information about VINs to more detailed and specific aspects of using them and vehicle data in business and technical settings.  We hope you find them useful.

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Topics: Vehicle

10 "How to" Fleet Management Tips from the Fleet Solutions Experts

This post has been republished with fully updated content since its original publish date in Nov 2015

Managing a fleet, big or small, is not an easy task. There are several items to account for and challenges to overcome in order to run a successful fleet. Some of these include saving money on fuel, ensuring the safety and job satisfaction of your drivers, keeping up with vehicle maintenance and repairs, etc. 

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Topics: Logistics, Fuel Economy, Fleet Management

10 Popular Questions About EVs

As electric vehicles (EVs) continue to be one of the hot topics for discussion in the auto industry, and more consumers consider making the switch from their traditional internal combustion engine (ICE) vehicles, there are many questions that come along with EVs. Many of these questions are related to battery range and life expectancy, as well as charging infrastructure and the purchasing or leasing of EVs.

Though we were able to find many helpful resources that provide some great information on the questions included in this article, getting definitive answers has proven to be quite challenging, especially for some of the most pressing questions. In fact, researching answers to these questions has raised even more questions, which we will likely address in other articles. While we don’t have all the answers, we hope this article will help educate consumers, as well as other businesses in the industry looking to gain some EV knowledge.

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Topics: Electric Vehicles

Right to Repair: Whose Car is it Anyway?

“Right to Repair” is a general term for legislation that permits buyers to repair and modify their purchases, from electronic devices, such as smart phones and computers, to motorized vehicles, including cars and tractors.

In the automotive industry, Massachusetts was the first state to pass a law (in 2012) requiring OEMs to provide the necessary documents and information to allow anyone to safely repair their vehicles. As a result of the law, vehicle owners and independent repair facilities have access to the same diagnostic and repair information, through an on-board diagnostics port (OBD2), that automakers typically made available only to certified service centers.

However, there is one exception to the rule: wireless telematics systems.

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Topics: Parts & Services