Data & Analytics

01:53 PM
Nathan Golia
Nathan Golia
Slideshows
Connect Directly
Facebook
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%

4 Ways Driverless Cars Are Poised to Shake up Insurance

Driverless cars are closer to reality than you think. Here are some impacts they might have on the insurance industry.
Previous
1 of 4
Next


1. Incremental Changes Already Impacting Safety…

Does your car come equipped with stability control, forward or rear sensors, or parking assistance? Then you're seeing the foundation that will eventually lead to fully autonomous vehicles, says Craig Beattie of Celent.

"There's going to be a phase before [full autonomy] where a bunch of technologies come into adoption and take over parts of the driving experience," Beattie says. "Honda has some lane following technology, for example — if you couple that with adaptive cruise control, where you set the target speed but maintain a safe distance, you can do a lot of freeway driving without doing anything."

Eventually, systems will evolve beyond warning systems that aim to spur a driver action to just taking the action themselves, Beattie says.

"Most of these systems are geared so they give the driver something to do before they kick," he explains. "Right now, it's clearly the driver's responsibility to do something if the system kicks in, but we're swiftly moving into an area where it's getting a bit foggy."

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

Previous
1 of 4
Next
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Greg MacSweeney
50%
50%
Greg MacSweeney,
User Rank: Apprentice
5/23/2013 | 12:39:39 PM
re: 4 Ways Driverless Cars Are Poised to Shake up Insurance
As more driverless cars are on the road, risk should go down, along with insurance rates. But, as emariacher says, liability will be shifted to manufacturers, who will need insurance to cover their liabilities.
Cara Latham
50%
50%
Cara Latham,
User Rank: Apprentice
5/22/2013 | 2:25:25 PM
re: 4 Ways Driverless Cars Are Poised to Shake up Insurance
Undoubtedly, driverless cars will eliminate some of the driver errors that lead to extensive injury and damage, but as the sources in the article note, new risks will come into play as new and untested technology is increasingly included in future automobiles. Though, I am inclined to think that whether a message pops up on a dashboard or driver window would be deemed irrelevant if the owner of the vehicle is no longer operating the vehicle and can more easily and safely focus on such messages.
KBurger
50%
50%
KBurger,
User Rank: Author
5/20/2013 | 2:44:46 PM
re: 4 Ways Driverless Cars Are Poised to Shake up Insurance
This won't be limited to driverless cars, but presumably apps connecting "drivers"/owners to their auto insurance carrier would be part of the car's features/capabilities. Instant/real time first notice of loss. Could also include connections with the health insurer, in case of injuries.
emariacher
50%
50%
emariacher,
User Rank: Apprentice
5/18/2013 | 4:34:12 PM
re: 4 Ways Driverless Cars Are Poised to Shake up Insurance
Driverless cars - TomorrowG«÷s yesterday jobs: End of car insurance

Year 2030: there will be less accidents, and manufacturers will be liable for them instead of the driver. Car accident will be renamed as G«£software bugG«• and dying on the road will be renamed as G«£having a blue screenG«•.
Register for Insurance & Technology Newsletters
White Papers
Current Issue
Slideshows
Video