Six Things 12.5.23
Insurance Thought Leadership
Transforming the Insurance Industry - Welcome to the Conversation
Maybe OEMs Aren't Such a Threat to Auto Insurers
Paul Carroll, Editor-in-Chief of ITL
Vehicle makers have long complained they don't generate the revenues and profits they deserve. They design, build, market and sell the world's cars and trucks, creating a massive market -- but a huge percentage of the value flows downstream to others.
Car makers may capture revenue from financing and perhaps warranties, but others service and repair the vehicles, provide the gasoline, develop the navigation apps and, yes, sell the insurance. The auto makers would dearly love to capture more of that downstream revenue and seem to have especially aggressive plans on insurance.
But a recent article on Tesla's problems developing an insurance business, on top of Goldman Sachs' face plant in consumer banking, suggests that the auto behemoths may not be as threatening as insurers once thought.?
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