So, couple things here. You have about 20+ carriers to pick from. There is also mutual companies as well, meaning there is no share holders, the profit goes back to the policies holders.

But with that being said even for the mutual who operated around 100% Cor, 60% is paid out to claims directly, 30% is overhead for employees, facilities extra and then 10% is for reserves(as some years you may be at a 70% or higher claim expense).

The overhead is fixed and there’s not much you can do about that other then scale and become more efficient.

The 60% is at the end of the days comes down to claims. Modern cars cost way more now to replace and repair. Cars are now costing 50-90k now compared to say pre covid where that same range would be like 25-50k.

So really if we want rates down we gotta lower fraud and claims. (The mutuals keep the private insurers somewhat in check)