Insurance nerd here - this is a good take. Connected cars are also driving up costs. It’s not as simple as replacing a bumper if there are sensors to prevent lane drift, alert of close objects, etc. so the costs will stay higher than historical levels even if you don’t account for inflation. Additionally, certain areas are troubled with wildfire, flooding and other Catastrophic risks that get embedded into actuarial models that have more to do with location than driving behavior. It’s fundamentally changing rate model and loss pick assumptions. Supply chain and labor shortages are certainly cost factors as well.