Some insurance companies are considering thIs Issue. I have worked with the largest companies of State Farm researchers talked to, they are seriously thinking about the problem, even though the corporation Is not fully grasp all the results. The use of fully Automated driving a Car, most likely, the supplied Car insurance. Due to the failure of most Car accidents occur probably be attributed to the software, rather than personnel, Automotive suppliers more than the owners need insurance. How driverless Cars Will affect Auto insurance? The truth here, do not look Will regret it.
owners Will need some insurance (usually comprehensive insurance and uninsured drivers, etc.), just as they had done today. The first Car Will be driven by humans – we have not the steering wheel from the Car some dIstance – and at least some of the time operated by them, so they still need insurance. If the owner Is not driving most of the time, they should be able to get lower-cost insurance to deal with their reduced driving, but on the other hand, thIs may be (ie sports driving situation or driving computer) some of the higher-rIsk drivers can not handle .
accident rate Is lower than the target person’s Car. Ideally much lower. As long as (and thIs Is a big problem) damages these accidents and damages in similar man-made accidents, so insurance costs Will be lower than the current cost of a human driver insured, and therefore can be bundled with Car . Larger Car companies Will self-insurance, which Is bad News for large insurance companies. Before all thIs happened, accident prevention and crash survival techniques have reduced accidents.
driving deaths a few years ago to 44,000 people, and now they have dropped to 33,000 people in the United States and declined. Because these systems reduce the number of accidental deaths, the insurance company Will find a decrease in the market before the arrival of the robot. However, there are other things that need insurance. Car insurance companies provide a valuable service – to take rIsks, to pay the price. The service Is still of great value, and the future Will bring revenue for them. But as an integral part of commercial insurance and reduce the income / profit – not apeople. If we consider the impact of the cost-to-income, we Will get a better understanding.
for a fully Automated Car, the number of accidents Will be a sharp decline, reducing the amount of claims paid. Considering the Car’s technical log Will provide us with complete and unbiased information about the conditions that lead to any collIsion, there Will be fewer lawsuits – to reduce costs again. Digital claims in operational management, operations and sales and marketing, reducing the overall cost. Liability from advances in technology mean Car collIsion Will be transferred to the Car manufacturers – a bit like a product liability. Therefore, the insurance Will be applicable commercial insurance rather than individual insurance. Therefore, profit margins Will be reduced, thereby reducing the income.
the degree of difference between the insurance products Will decrease and become more commercialized, thus reducing income again. Since most of their profits come from investment premium, with the reduction of the total premium, profit Will be reduced. Driving enthusiasts like insurance must pay higher insurance premiums by hand, because driving has become the elite! Expected Autonomous vehicles Will be accompanied by a super Car, no one would own a Car, just use these unmanned vehicles when necessary. ThIs actually means that the future of transportation Is the public / public transport – have a smaller private sector.
soon, Autonomous vehicles Will become a moot point, because the individual UAVs become the de facto personal transportation. Once off, the Car insurance company Will come to the customer – providing UAV insurance. Therefore, the future of Car insurance companies Will face interrupted, but smart companies Will invest in the future development trend of the wave peak ……! These are my views (supporting facts). But as all known “unknowns”, as there Will be so many “unknown unknowns,” the forecast useless and life more exciting!