The Netflix of Car Insurance

Entertainment platforms like Netflix and Spotify have established a new paradigm in consumption: the ability to choose from various options and tailor the experience to user preferences. This model has influenced the insurance sector, where customers demand the same flexibility and adaptability. Traditional car insurance policies are no longer the only option. Today, drivers can opt for more flexible coverage. From temporary insurance to the ability to add or modify services at any time, personalisation has become a key pillar of the sector. This approach, driven by technology and data analysis, is transforming the relationship between insurers and insured, offering more intuitive, efficient, and lifestyle-adapted products.

Thus, insurers have realised that the future of their industry lies in adapting to a customer who seeks convenience, immediacy, and personalisation. The new insurance models, driven by technology and flexibility, are redefining the sector to make it more agile and user-centric.

In this scenario, Prima Seguros, an insurtech acting as a specialised insurance agency in the automotive sector, has highlighted how insurers no longer only offer static and homogeneous policies but have moved towards modular products that allow customers to design their coverage to measure. Policies with adaptable coverage according to the driver’s needs are gaining ground. This evolution responds to the need for more dynamic solutions in a world where mobility is increasingly varied and connected.

The rise of artificial intelligence (AI) and Big Data has been crucial in this transformation. Thanks to these advances, insurers can analyse drivers’ behaviour in real-time, offering prices and coverage tailored to each profile.

Mobile applications and digital platforms have turned the contracting and management of insurance into an agile, intuitive, and frictionless process. From coverage adaptation to automated assistance in case of an accident, digitalisation has empowered users, giving them more control and transparency over their policies.

According to experts, this trend will continue to grow in the coming years, consolidating a more accessible and flexible insurance model. “We are at a key moment of change. Customers demand solutions that adapt to their driving habits and current mobility. Digitalisation allows us to respond to these demands, offering much more efficient and personalised experiences,” explains Ignacio Castilla, Country Manager of Prima in Spain.