Automated Car Insurance

Artificial intelligence technology has streamlined the insurance buying process and created a new sector named automated car insurance. By inputting some basic information about a driver, artificial intelligence can make the best coverage and limits for a driver’s budget and search through dozens of providers to find the lowest rate. The entire process is automated and even customer service is run by A.I. chatbots. 

What is Automated Car Insurance?

Automated car insurance uses cutting-edge artificial intelligence technology to automate multiple insurance processes. They can all be done automatically from getting an insurance quote and buying a policy online, to filing a claim. This saves consumers time and serious money. 

There are modern insurers like Lemonade.com who have built their business around automating the entire car and home insurance buying process. They provide a much better user experience, all the while lowering premiums.  

One of the big differences in automated auto insurance is the advancements in speed, like getting a quote or making a policy change. A.I. gets the job done in seconds when it would have taken hours or even days years ago.

The Benefits of Automated Car Insurance

Instant Automated Insurance Quotes 

In the old days of direct auto insurance, getting an online quote would take around five or six minutes.

Matching a driver with the cheapest rate almost instantly saves time and a lot of frustration by eliminating the need to get a bunch of quotes from several companies. To get a quote all you need to do is enter a few basic things like your address, vehicle, and driving history. You can also search for providers with the cheapest car insurance with a low deposit. 

Seamless Renewal Process 

Automated car insurance means you don’t need to do anything when it’s time to renew your policy. Your renewed policy will be sent to your email and you can then check it on the app. With automated auto insurance, your policy will renew automatically, unless you choose to cancel. This eliminates all the paperwork of years ago and the need to approve everything when a policy is renewed.  

Instant 24/7 Customer Service 

Anytime you have a question you can ask your personal A.I. insurance app to help you with your policy. You can change your coverage, cancel a policy, or get help with a claim, without ever being put on hold.  

Faster and Streamlined Claims Processing

One of the biggest complaints about auto insurers is the slow claim processing. Now, with automated car insurance, the entire process has been revamped thanks to A.I. You can now upload a photo of your vehicle and accident scene as necessary. Most claims are then processed without human interference, speeding up the process significantly and lowering the overall cost of the claim. 

Better Fraud Detection for Lower Premiums

The auto insurance industry has dealt with fraud for decades, resulting in higher premiums for all drivers. Fraud can be detected and criminals identified more easily thanks to smart A.I. detection. This automated fraud detection saves insurers billions and those savings are passed down to consumers by way of lower rates. 

Easier to Use Customizable Policies

For example, let’s say recently retired and now want to change the amount of miles you drive each year to lower your premium. It can be done in seconds now with automation, saving you both time and money. 

Real-Time Savings with Telematics Integration

Not all drivers like telematics because many feel it is too intrusive. Automated car insurance integrates with telematics delivering real-time risk profiles that could help drivers save even more money on their auto insurance. 

Companies That Use Automated Car Insurance 

More and more insurers are integrating automated auto insurance systems into their business, from providing quotes to policy changes, to customer service. Here are several insurers that are on the cutting edge of automated insurance. 

The Pros and Cons Of Automated Car Insurance 

Pros 

• Cheaper Rates: Automation means fewer people are needed to handle most aspects of insurance. These cost savings are then passed down to drivers through cheaper rates. 
• Safer Drivers: Many A.I.-powered telematics programs incentivize drivers to drive slowly. This in turn reduces the number of accidents and traffic fatalities and even lowers auto insurance rates for everyone
• Fewer Errors: Humans make mistakes but AI-powered automation seldom makes a mistake. 
• Less Paperwork: With popular insurance apps that are driven by A.I. almost everything can be done digitally without using any paper. You can even show your digital insurance identification card as proof of insurance without ever printing it out. Automated car insurance loves the environment and does its part in cutting out unnecessary waste. 

Cons

• Limited Customer Support: Let’s face it, not everyone likes chatting with an A.I. powered bot. Many people are “old school” and want a live human being to solve their problems. More and more insurers are pushing customer service bots, which sometimes have difficulty understanding and fixing complex problems
• Concerns Over Privacy: Automated auto insurance often uses telematics apps and other A.I. tools that collect and propagate a driver’s personal information. For many people, this raises concerns over privacy and the potential of their info being sold to third parties.

The Final Word On Automated Car Insurance 

The era of A.I. has infiltrated the auto insurance industry promising lower rates and improved efficiency. Many drivers have embraced automated car insurance because it’s made finding the cheapest auto insurance and buying a policy so much easier. 

Undoubtedly, A.I. insurance usage will only increase, as more apps are being developed to tap into the huge insurance market. The future is unknown but we do know that automated car insurance is here and it’s not going away anytime soon. Compare the cheapest plans online and save hundreds with automated quotes.