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Product Development Increasingly Important in Personal Auto

Wednesday, December 18, 2013

Product development is an area of increasing importance in insurance generally, but particularly in Personal Lines Auto. Insurers that are able to produce the most innovative products and get them to market quickly will win. Personal Lines Insurers have traditionally moved more slowly regarding new and/or changed products, but recent market and competitive conditions are resulting in a big focus on generating new and different products in the marketplace, such as usage-based insurance.

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