Tesla files new insurance program in Georgia

Tesla has filed a new auto insurance program in the state of Georgia with a proposed effective date of November 15, 2022.

Currently, Tesla Insurance is available for customers in 11 states and the company is waiting for approvals in several new states including Florida and New Jersey.

Interestingly, Tesla is adopting the insurtech term:

“The program will be distributed through the digital InsurTech platform from Tesla Insurance Services (Tesla). The purpose of the product is to use the technology in vehicles to lower costs and improve the customer experience through automated underwriting, rating, and claims, including direct data feeds with customer permission, that eliminate frictional costs and inefficiencies inherent in traditional insurance processes. The digital approach to purchasing insurance by the consumer will streamline and enhance user experience throughout the policy lifecycle, beginning with the quote through online bind, renewal, and in the event of a claim. The use of vehicle and consumer data, with the consumer’s affirmative consent, will allow for lower costs to acquire and service the policyholder.” – Georgia state filing.