I have hinted in past posts that a new model is needed, and is being developed for auto insurance. The old model was starting to not work very well at all, for insurers, repairers and car owners. With the rapid changes in car design it will only get worse; rapidly.
Here is an article from Repairer Driven News that supports that position, with a new company staking their future on the need for a new model.
The article came out in February of this year, and I didn’t see it until today. Lemonade is up and running with their new model as of this month. For now they are only in New York and only with homeowners and tenant insurance. But it is a real company, with real employees and real money working with a new. It may or may not the answer but it is a start and we can expect to see other new approaches hitting the market in the near future.