Auto Archives - Page 10 of 10

March 1, 2022

Alfa Romeo Makes a Splash in the NFT Game

Tired of hearing about NFTs just yet?

We can’t prove it, but we’re pretty sure nobody actually understands exactly what they are or what they do. That hasn’t stopped Alfa Romeo from issuing an NFT with each purchase of their new Tonale SUV.

With this move, Alfa Romeo claims to be the first brand to fully adopt “digitization” in the auto industry. But, what does it actually do?

This is where things get interesting. Unlike other notable NFT projects that claim ownership and community as the key tenet of their value, the Tonale actively records info about the vehicle to the NFT over time.

Maintenance records, miles driven, accidents and wrecks – it’s automatically recorded to the token via the blockchain. That’s if you get it serviced only at certified Alfa Romeo service centers, of course.

In many ways this feels like the first iteration of how crypto enthusiasts say blockchain technology will eventually change our lives. It certainly feels preferable to have a singular, undisputed record of a vehicle’s life span, but we’ll see how much the market values this brand new feature.

February 26, 2022

3 Auto Insurance Companies Rebuilding the Industry

You may feel like you can’t escape the barrage of insurance ads that are literally everywhere. And for good reason — Geico, State Farm and Progressive spent $2 billion collectively on advertising in 2020.

It’s a cutthroat, high-competition industry with a lot of revenue on the line, and it’s been that way for decades. Cue the disruptors.

As the world’s attention (and wallets) have turned to tech, new players have entered the insurance game promising lower premiums, easier to understand terms, and a friendlier user experience.

Here are three insurance companies promising to shake up the auto insurance game for good, and without the cost of a talking lizard’s salary.

Root

Root Insurance’s mobile app has got to be one of the best out there. The clean design and easy to understand terms are clearly laid out while browsing coverage options.The experience resembles ordering an Uber more than shopping insurance. The app is also used to log your driving habits to better personalize coverage, file claims and order roadside assistance.

2. Lemonade

Using Lemonade’s app and website might be the only “fun” way to shop for insurance.The company’s AI assistant, Maya, personalizes the full process for you, and tailors coverage based on your needs and driving history.

3. Metromile

Metromile’s “Pay-Per-Mile” model makes it a perfect option for those with shorter commutes. You pay a base monthly rate, and then a few cents for each mile you drive. Depending on your driving habits, this can save some drivers thousands of dollars each year.