Can't wait to meet with some of the strongest startups and high-growth companies impacting insurance across P&C / Life / Health / Benefits at Scout InsurTech! Join us in Columbus, OH on June 17th for this exciting conference focused on sharing new ideas and talking about potential partnerships between these innovative companies and the carriers / brokers / agents they're seeking to empower. Register for Scout InsurTech: https://lnkd.in/ejEtvw2x #insurance #insurtech #technology #networking #innovation
Vecto
Technology, Information and Internet
New York, NY 156 followers
The future of rental replacement. We offer ridesharing and alternative transportation solutions for insurers.
About us
Vecto is an insurtech platform that offers access to a wide-ranging network of alternative transportation options and car providers for drivers who’ve been in an accident. We provide insurers with a provider network and a vendor-neutral technology platform to access those providers in order to improve the rental replacement process. The transportation world is rapidly expanding and we believe the rental replacement process should expand alongside it. Our mobility network is comprised of ridesharing services, emerging Mobility as a Service (MaaS) companies, and traditional car rental agencies – all under a single technology platform. Instead of putting all your eggs in one basket, Vecto empowers insurers to access any vehicle from any mobility provider that can get a customer from point A to point B.
- Website
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https://govecto.com
External link for Vecto
- Industry
- Technology, Information and Internet
- Company size
- 2-10 employees
- Headquarters
- New York, NY
- Type
- Privately Held
- Founded
- 2020
Locations
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Primary
New York, NY 10118, US
Employees at Vecto
Updates
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Claims leakage remains a significant challenge for insurers. The solution lies in embracing technology that offers flexibility, transparency, and choice. By integrating alternative transportation options seamlessly into the claims process, insurers can mitigate leakage and enhance customer satisfaction. Discover more strategies to prevent claims leakage: https://lnkd.in/e4fKMZA7. #InsuranceIndustry #ClaimsManagement #TechnologyIntegration
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Telematics technology is reshaping auto insurance, offering a personalized approach that aligns with Vecto's mission of democratizing the rental replacement industry. By utilizing data-driven insights, insurers can tailor coverage and pricing to individual driving habits, promoting safer roads and more efficient claims processes. For a deeper dive into telematics, check out this article from the Insurance Information Institute: https://lnkd.in/e9h5VjmD Insurtech innovations like Vecto are transforming the insurance landscape, introducing greater efficiency, choice, and affordability. As the industry embraces these technology-driven solutions, insurers and customers alike stand to benefit from a more transparent and accessible rental replacement process. #Insurtech #Telematics #Innovation #futureofinsurance
Background on: Pay-as-you drive auto insurance (telematics)
iii.org
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Rising Car Insurance Costs: A Reality Check! A recent article from Forbes Advisor highlights a staggering 17.8% increase in car insurance rates. What's driving this surge? Factors like higher driving costs, more vehicles on the road, a spike in auto theft, and the impact of natural disasters are some of the key culprits. 🚗💸 The average car insurance policy now sits at around $1,668, with states like New Mexico, Nevada, and New Jersey experiencing even higher hikes. This trend isn't just about numbers; it reflects the changing dynamics of our transportation ecosystem. But here's a silver lining: As the landscape evolves, so do the solutions. Today's technology platforms are stepping up to bridge gaps and offer smarter, more efficient alternatives. From optimizing insurance processes to integrating diverse mobility solutions, the industry is on the cusp of a significant transformation that can help insurers offset rate increases by reducing expenses. 🌐 For a deeper dive into the Forbes Advisor article and to understand the full scope of these changes, check out the full article here: https://lnkd.in/eG-5aWzy #CarInsurance #FinancialPlanning #IndustryInsights #MobilitySolutions #InsuranceTrends #Vecto
Car Insurance Rates Skyrocket 17.8%—Why Is This Happening And What Can You Do?
forbes.com
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We're sponsoring InsureTech Connect #ITCVegas from October 31 to November 2, 2023! Join us at the world's largest insurance innovation gathering, connecting 10,000+ tech entrepreneurs, investors, and insurance executives globally. Secure your spot now! https://lnkd.in/e-Xuz92Z
Join us Oct. 31 - Nov 2, 2023 | THE FUTURE OF INSURANCE IS HERE
i.snoball.it