Berkshire Hathaway's Geico (NYSE:BRK-B), Allstate (NYSE:ALL), and Progressive (NYSE:PGR) have been duking it out in the auto insurance industry for quite a while now. But a piece of new technology is heating up the battle and stands to make the industry more profitable for the insurers and their investors.

In the video below, Motley Fool contributor Jessica Alling discusses the new gadget and how the companies, their customers, and their investors will benefit from the technological advance.

Fool contributor Jessica Alling has no position in any stocks mentioned. The Motley Fool recommends Berkshire Hathaway and Progressive. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.