Autopilot Will subvert the automobile insurance industry, insurance companies and car companies or merge? | K · Golbal

REVIEW: With the popularity of the Automobile Autopilot, how its open policy, premiums posed a severe challenge for the insurance industry. Lack of data, complex relationships, the user’s privacy, are needed to solve the problem. To thIs end Car manufacturers and the insurance industry Will be “integration” do? As the US Auto insurance property insurance industry, “eating insurance” nearly 80% market share in the country’s largest P & C insurance, after the Autopilot into reality, it would be what impact?

A few years ago, Southern California venture capitalIsts and entrepreneurs Pierre considering buying a Tesla Model X, but when he consulted hIs insurance company Insurance after the fee increases do thIs much, he gave up the idea. “They gave me the offer Is $ 10,000 per year,” Pierre recalls.

face all concerns involving driverless Car accidents, including the exIstence of hidden Tesla limited Autopilot models, it Is easy to forget that one of Autonomous vehicles a better mind: they you can make roads safer. A large number of sophIsticated laser, radar and camera are considered better at detecting faults than our eyes and ears. Moreover, the computer Will not drunk, able to detect flammable, not doze on wheels.

40-year-old Pierre previously founded a company called Hixme provide group health insurance services. Now, he wants to set up a new company, specifically for vehicles with Automatic driving mode (the eventual development of fully Autonomous vehicles) to provide insurance services. Pierre to (for their old traditional Car insured) insurance company confirmation, only confirmed thIs need.

Pierre said that when insurers and actuaries for the new rIsk-based pricing, because there Is not enough data, so they Will charge higher premiums. Now the road Model X Is still limited, so it’s safety record Is the most opaque and incomplete.

However, in order to improve the Automation, Tesla and other Auto manufacturers to collect a large number of vehicles operating data. Pierre said he recognized that “we can learn from theThere are vehicles to get huge amounts of data and to Carry out insurance business without having to wait years to get the data from the accident has occurred in. “

As a result, the insurance company can also reduce the part of the driver because it involves the Autopilot and increased premiums.

have Autopilot, and also need Car insurance?

January 30, after receiving $ 5 million in seed money Los Angeles Crosscut Ventures lead investor, Pierre announced the creation of Avinew.Avinew insurance products Will monitor the driver how to use the Autopilot feature Tesla, NIssan, Ford and Cadillac and other vendors on the vehicle during driving, and to determine the dIscount depending on how the driver’s use of the Autopilot mode.

Pierre representation, Avinew has reached an agreement with most manufacturers, Is also being closely linked to other manufacturers to achieve cooperation, in order to allow it access to consumer license access in the case of driving data.

Deloitte premonition that the arrival of thIs moment in its 2020 insurance industry outlook report. “rIse of the networked Car has generated a lot of real-time data, the relationship between insurers and policyholders from the rest of things Type of treatment, into a dynamic and interactive. “Avinew said it plans later thIs year in selected states out of the insurance policy.

thIs into billions of dollars worth of Auto insurance industry has brought in respect of life and death crIsIs.

If there Is no Car, Why do we need Car insurance? premiums and revenues are based on the likelihood of a collIsion the driver and the actual collIsion ratios. in general, more than 90% of crashes are caused by human error, the driver of the factors excluded, the insurance companies Will mean changes.

senior managing director of Accenture’s Insurance customer service Michelle Kraus said, “every time a strategic dialogue Will happen. “The main insurance Carriers” would very much like to know fromAutomation technology behind, and what their opportunities? “

2017, Klaus’s team publIshed a research report and Stevens Institute of Technology in New Jersey. The report predicts that, with the increasing Automation popularity, the insurance company Will be in trouble

the researchers found that, by 2035, premiums overall market Will decline by 12.5%; while Automatically driving a Car as the center of a new insurance product line Will be offset part of the loss, but the reduction in premiums Will eventually outweigh the benefits.

for the insurance industry, there Is some good News Is that they still have time. Stevens predicts that by 2035, only 23 million on US roads Autonomous vehicles, less than today’s Car ownership of 10%.

the insurance industry Will be enormous Up to now, vehicle maintenance Autopilot functions required technology costs are very high, which means that premiums Will initially rIse as more and more Cars Will not dare to go to the store dIstribution service with Automation to achieve full Autonomy, the insurance industry Will be changed dramatically.

thIs Because the driver Is no longer a rIsk factor. Indiana University associate professor of operations management Rodney Parker said, “liability may be transferred from individuals to companies, and Autonomous vehicles driven software licensing business. “

Accenture report also think so. That means insurers Will the company sell more policies, and to sell to the driver’s personal insurance policy Will be reduced: Car manufacturers and interactive systems, software, sensor supplier for their products appear responsible for the problem, not the driver did not check their blind spots pay

more broadly. the nature of the rIsk itself Will change, Northwestern University professor Yang Huizhen said thIs. when the human driving a Car, “uncertainty Is random, normally dIstributed random chance. “If the rIsk from sensors or software defect, it would become” more systematized. “

the United States has already begun thinking about the problem of mutual insurance companies (Nationwide). Currently the driver rating by gender, age and driving record and other factors. The company’s vice president of product development assIstant Theresa Shane said, “If we get data from the vehicle, then the rating system Will be a significant change, become more complex.”

of course, the insurance companies are already engaged in data management business, but “it Is evolving into a powerful force, so we have to strengthen.” According to Don Tetsuo president, he said the root of its services business, as the nation’s mutual insurance companies, like Allstate Insurance Company (one of Allstate / Fortune 500 company) Is actively recruiting big data and expert analysIs.

In thIs new situation, when there Is a problem of determining who Is at fault Will become very difficult.

If the radar Is broken Is the responsibility of Car manufacturers, suppliers of radar or responsibility? If the driver fails to get the latest firmware update, it Is that he’s wrong? If equipped with a super cruIse (Super CruIse) Cadillac loses Internet connectivity, are universal responsibility, or Verizon Wireless (Verizon) responsibilities? If the Car system Is hacked, it Is regarded as theft category? If the management of municipal infrastructure, traffic flow data Is lost it?

MIT Keith said, “As a society, we have to figure out who Is responsible for these different situations, which Will determine who needs to insure against the rIsk of what” .

However, these are the traditional insurance companies and startups such opportunities as Avinew fastest to adapt to change. Keith said the insurance protection products Will become increasingly popular, and travel as a service, it means that we have to “make sure that we, as the safety of passengers.” No driver, it would not be insured driver.

Nationwide insurance company believes, in front of the smoothest roads should be insurers and Car manufacturers can control the direction. Shane said, “We’re trying to establIsh deeper ties with Car manufacturers.”

ThIs may mean that insurance companies and Car manufacturers merge soon?埃森哲克劳 Adams said, “these negotiations in progress.”

In fact, K-line Auto dIscovery, Auto insurance property insurance industry in the United States as “food insurance”, nearly 80% market share in the country’s largest P & C insurance, much higher than the about one-quarter of American and European countries. Therefore, the US insurance industry lIsted companies, a clear need to plan ahead.