Category
Business
Assisted Conversion
Trend cluster
Category
Urban
Insurance
Insurance companies adapt to the transportation rituals of city dwellers.
4.1
Trend score
Trend
What is the Urban Insurance trend?
Urban Insurance: Insurance companies are expanding their services to cover changing commuter needs as innovative modes of transportation--from ridesharing to autonomous vehicles--are challenging their traditional business models.
Insight
The consumer insight behind the Urban Insurance trend
Urban centers are becoming increasingly populous as young people search for opportunities and entertainment. As they come of age, consumers feel a need to conquer the job market and expand beyond the boundaries of the small town, both professionally and socially. While they are settling in, they enjoy more compact modes of transportation that are reasonable for their tight budget, which has to be considered of home, meals, entertainment, and so on.
Trend themes
Themes within the Urban Insurance trend
Three behaviours holding the trend together01
Changing commuter needs
Insurance companies are expanding their services to cover changing commuter needs as innovative modes of transportation--from ridesharing to autonomous vehicles--are challenging their traditional business models.
02
Mobility insurance
Startups like Voom are offering unique mobility insurance plans ranging from e-scooters to boats that cater to 'episodic usage mobility platforms'
03
Digital insurance
Digital platforms like INSHUR's UBER car insurance policy allow for fast policy access and personalized rates, leading the trend towards all-digital insurance services.
Industry implications
What the Urban Insurance trend means for industry
Where the trend changes the playbookFor
Insurance
Industries within insurance, specifically those that cater to mobility, homeowners, and ridesharing, will be able to take advantage of the changing needs of today's consumers.
For
Mobility Solutions
Startups that cater to mobility solutions like e-bikes, scooters, and EV subscriptions will continue to grow as more people move to urban centers and opt for sustainable transportation options.
For
Digital Platforms
Business professionals who create digital platforms will be able to take advantage of the trend towards all-digital insurance services and create convenient, personalized experiences for their users.
Workshop question
How could your brand better adapt to changing consumer rituals in its area of expertise?
Trend signals
Trend signals for Urban Insurance
Trend score 4.1 out of 10, from popularity 64%, activity 51%, freshness 9%.
Popularity64%
Activity51%
Freshness9%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Urban Insurance trend
9 featured examples from Jun 7, 2017 to Jul 24, 2020CategoryAutos
Smart Electric Scooters
The Unu Electric Scooter Delivers Top Speed No Matter the Charge Level
The customizable and eco-friendly features of Unu's electric scooters create an opportunity for growth in the manufacturing industry, particularly for companies focused on sustain…
CategoryAutos
Subscription-Only Electric Cars
Canoo Has Customers Pay a Monthly Fee to Use Its EV
The automotive industry can explore subscription-based models as a disruptive innovation opportunity to attract younger consumers and adapt to changing preferences.
CategoryBusiness
Versatile Mobility Insurance
Israel's Voom Provides Insurance for E-Bikes, Scooters and More
Voom's insurance plans cater directly to owners of e-scooters, providing disruptive innovation opportunities within the industry.
CategoryTech
E-Bike Blockchain Security
BikeBlockchain Helps Riders Quickly Recover Stolen E-Bikes
The insurance sector can benefit from blockchain-based theft tracking to provide better coverage and reduce risks associated with e-bike theft.
CategoryMarketing
Home-Sharing-Specific Verification Platforms
GUARDHOG Debuts SUPERHOG in a Bid for Better Security
The home-sharing industry can benefit from verification platforms that increase security and transparency.
CategoryAutos
E-Commerce Auto Insurance
Amazon Pay Launches Car and Bike Insurance with Acko General Insurance
The introduction of a simplified and digital auto insurance purchasing process disrupts the traditional auto insurance industry, opening up opportunities for insurers to adopt use…
CategoryLifestyle
Collective Insurance Providers
Laka Caters to Cyclists, Boasting Both Bicycle & Recovery Insurance
More insurance providers can integrate collective insurance model and targeted insurance policies to stand out in the market.
CategoryTech
Rideshare-Specific Insurance Plans
INSHUR's UBER Car Insurance Policy is Fully Digital
INSHUR's all digital and personalized platform disrupts the traditional insurance industry.
CategoryTech
Driverless Bus Trials
London Gatwick Airport Is Making History With Autonomous Vehicles
The automotive industry can explore ways to integrate autonomous vehicle technology into their vehicles, both for public use and within work environments.
