Skip to content
tavernatzanakis

tavernatzanakis

General For All

Primary Menu
  • General News
  • Art And Entertainment
  • Baby & Parenting
  • Education
  • Fashion
  • Home
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Elon Musk Touts Tesla’s Auto Insurance After Warren Buffett’s Warning
  • business insurance

Elon Musk Touts Tesla’s Auto Insurance After Warren Buffett’s Warning

By Sybil T. Mann 3 years ago

[ad_1]

  • Tesla has started underwriting auto insurance for its customers in three US states.
  • Elon Musk expects Tesla’s insurance to result in safer driving, lower premiums, and better service.
  • Warren Buffett has cast doubt on whether Tesla and other automakers can succeed in Geico’s industry.
Loading Something is loading.

Elon Musk trumpeted Tesla’s early inroads into automotive insurance last week. Warren Buffett, whose Berkshire Hathaway conglomerate owns Geico, has cast serious doubt on whether Tesla and other automakers can break into the industry and turn a profit.

Tesla recently began underwriting


auto insurance

for customers in Oregon, Colorado, and Virginia. The electric-vehicle company plans to offer insurance to 80% of its US customers by the end of this year, according to its first-quarter earnings call.

Musk said that showing customers in real time how their driving affected their insurance costs could result in safer driving habits and lower premiums. Tesla can also use vehicle data to quickly pay out claims and organize same-day repairs, providing a better customer experience than conventional car insurers, he added.

Moreover, Tesla can analyze crash data to identify how accidents were caused, then reduce the risk of them reoccurring by tweaking its car designs or software, Musk added.

Buffett downplayed the threat posed to Geico by Tesla’s insurance ambitions during Berkshire’s annual meeting in 2019. An automaker is as likely to fail in the insurance business as an insurer is likely to fail in making cars, Buffett said, adding that he was far more concerned about rivals such as Progressive than the likes of Tesla.

“It’s not an easy business at all,” he said. “I would bet against any company in the auto business being any kind of an unusual success.”

“I don’t think they’ll make money in the insurance business,” Buffett added about carmakers. He acknowledged the value of vehicle data, but because telematics are being widely adopted, he doubted it would grant an edge to automakers over established insurers.

Christopher Bloomstran, the president of Semper Augustus Investments and a close follower of Buffett and Berkshire, has explained on Twitter why he’s skeptical of Tesla’s insurance business.

The fund manager has questioned whether Tesla has the excess capital needed to underwrite material amounts of insurance. He’s also said that running and expanding an insurance-underwriting business and paying out claims costs money and that the complexity of Tesla cars will make them pricier to repair than conventional cars.

Bloomstran has also emphasized that the auto-insurance industry is competitive, its players have slim profit margins, and regulators will drive Tesla’s pricing down if it starts earning big profits.



[ad_2]

Source link

Tags: Amazon Business Login, Amazon Business Prime, Bank Of America Business Account, Best Business Schools, Business Attorney Near Me, Business Bank Account, Business Card Holder, Business Card Maker, Business Card Template, Business Cards Near Me, Business Casual Attire, Business Casual Shoes, Business Casual Woman, Business Plan Examples, Ca Business Search, Ca Sos Business Search, Capital One Business Credit Card, Chase Business Checking, Chase Business Credit Cards, Chase Business Customer Service, Chase Business Login, Chase Business Phone Number, Cheap Business Cards, Citizens Business Bank, Cox Business Login, Digital Business Card, Facebook Business Suite, Finance In Business, Free Business Cards, Google Business Login, Harvard Business School, Lands End Business, Massage Parlor Business Near Me, Michigan Business Entity Search, Mind Your Business, Mind Your Own Business, Ohio Business Search, Risky Business Costume, Skype For Business, Small Business Loan, Small Business Saturday 2021, Starting A Business, Texas Business Entity Search, Triumph Business Capital, Vending Machine Business, Verizon Business Customer Service, Vonage Business Login, Wells Fargo Business Account, Yahoo Small Business, Yahoo Small Business Login

Continue Reading

Previous How Do You Help Kids with ADHD Succeed in School and Life?
Next Manny Diaz Jr. confirmed as next education commissioner
June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30  
« Apr    

Archives

  • April 2025
  • February 2025
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • January 2022
  • December 2021
  • November 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • March 2020
  • November 2018

Categories

  • Art And Entertainment
  • automotive industry
  • Baby & Parenting
  • business insurance
  • Dating & Relationship
  • Dental Clinic
  • Education
  • Fashion & Beauty
  • Fitness Gym
  • Games
  • General
  • General News
  • Health
  • Home & Improvement
  • Technology Global

Recent Posts

  • How to Prevent Short Cycling and Prolong System Life
  • Reliable Backup Strategies for Business and Home Use
  • Maintenance Tips for Iron and Steel Industry Equipment
  • Stunning Alexandrite Necklace Designs: A Guide to Choosing the Perfect Piece
  • Treats for Dogs: Discover Online Options, Goat Treats, and Fish Treats

Fiverr

Fiverr Logo

Tags

Amazon Fba Business Atlanta Business Chronicle'S Boss Baby Back In Business Business Administration Degree Business Attire Women Business Card Design Business Cards Templates Business Casual Dress Business Casual Outfits Business Checking Account Business Credit Card Business For Sale Near Me Business Intelligence Platform Business Lawyer Near Me Business Loan Calculator Business Name Ideas Business Professional Women Business Spectrum Login California Business Entity Search Capital One Spark Business Carl Weber'S The Family Business Charlotte Business Journal Custom Business Cards Delaware Business Search Florida Business Search Fl Sos Business Search Harvard Business Publishing Insurance For Small Business Kelley School Of Business Maryland Business Express Maryland Business Search Moo Business Cards National Business Furniture New York Business Search Ohio Business Gateway Onedrive For Business Online Business Ideas Paramore Misery Business Risky Business Cast Small Business Insurance Spectrum Business Customer Service Tom Cruise Risky Business Us Small Business Administration Verizon Wireless Business Verizon Wireless Business Login
futsalnesia
hopterra
tavernatzanakis.com | Magazine 7 by AF themes.

WhatsApp us