Financial Services Industry
Industry: Email Alert RSS FeedCurbing distractions: auto insurers are helping teens become safer drivers.(Property/Casualty: Auto Insurance Package)
Best's Review, October, 2007 by Cavanaugh, Bonnie Brewer
[ILLUSTRATION OMITTED]
With teen auto fatalities at a crisis point in the United States, the teen-driver safety market is opening up as the newest battlefield in the highly-competitive auto insurance segment.
Several carriers already have launched new products and initiatives aimed at reducing the number of teen deaths, anal more are in the offing.
Auto accidents are the leading cause of teenage deaths in the United States. The National Safety Council, calling the issue "a national crisis," noted that 44% of all teen deaths result from crashes each year; the National Highway Traffic Safety Administration noted that nearly 6,000 teens are killed each year, with more than 300,000 teens injured.
Now, several major auto insurers are...
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