New Crypto Tech Could Lower Your Auto Insurance

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By Ian King, Banyanhill.com

The CPI data is in, and inflation is officially beginning to cool down … but auto insurance is up 22% year-over-year.

One of my friends showed me his latest premium statement, and it was up over $400.

That’s not good.

According to Bryant University Mathematics Professor Rick Gorvett, a Fellow of the Casualty Actuarial Society, the recent spike was caused by a “perfect storm” of factors.

He discusses a few of the factors that led to these higher rates — the cyclical nature of the insurance business, supply chain issues, increased vehicle repair costs, social inflation and driving behavior.

If you’ve ever been on the I-95 in Florida … I’m sure you’ve witnessed that last factor.

But what can we do?

The answer could, in fact, be crypto…

Or in other words: blockchain technology.

Check out today’s video, in which we explore why inflation is cooling, what Bank of America has to say about it … and a possible hedge against auto insurance.


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