All articles by GlobalData Financial
GlobalData Financial
Trump’s automotive tariffs set to drive up vehicle prices and insurance rates in US
AEG cites that Trump’s 25% tariff on auto parts may cost American consumers more than $30bn in higher vehicle prices and reduced car sales in the first year.
Trump tariffs set to raise home insurance costs as construction materials affected
With US insurance premiums already outpacing those in other surveyed countries, the tariff-induced rise in construction costs is poised to widen this gap.
Monzo enters UK home market aiming to capitalise on consumer preference for digital channels
Monzo has recognised the low penetration rates for contents insurance specifically.
Most global consumers see the benefits of AI in insurance but still do not trust it
According to a GlobalData survey, there is a strong belief that AI can reduce queuing times to speak to insurance agents, as cited by 73.8% of consumers.
Cost of insuring electric vehicles could skyrocket amid Trump’s trade war on China
According to GlobalData’s 2024 Emerging Trends Insurance Consumer Survey, limited public charging infrastructure is the main barrier for US consumers to transition to a fully EV.
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The sale of esure could challenge Admiral as motor insurance market leader
GlobalData’s UK Top 25 General Insurance Competitor Analytics reveals that esure held a 4.9% share of the private motor insurance market in 2023.
WTW’s Radar Vision helps insurers tackle inflation and emerging risks
WTW’s Radar Vision has the ability to generate early insights into inflation, competitor activity, claims, and customer behaviour.
Demand for flood insurance soars in the US
The significant demand for flood coverage in the US and beyond indicates that insurers willing to offer it will be able to increase retention and penetration rates.
Trump tariffs to drive US car insurance costs even higher
GlobalData’s 2024 Emerging Trends Insurance Consumer Survey reveals that 53.5% of US consumers pay over $1,000 annually for car insurance.
Rising pressure from customers is driving demand for environmental insurance products
Amid growing ESG concerns, more companies will look at environmental insurance to protect themselves against the risk that their activities will damage the environment.