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Posted a new article (link below) about how autonomous vehicles – cars, commercial trucks and even boats/ships, will disrupt the P&C insurance market based on three reports from pricing analytics service provider Quadrant Information Services.
As self-piloted vehicles become a reality, it figures to fundamentally change how vehicles are insured. While still years from widespread adoption, insurers are now challenged to figure out how to adapt coverage to fit an expected gradual transition from individual ownership to fleet ownership of ridesharing autonomous vehicles.
Meanwhile, on the commercial side, removing truck drivers from the equation and the invention of remote control “drone ships” present challenges of their own for insurers. The prospective savings in shipping costs created by automation means manufacturers and shipping companies will no doubt pursue it as quickly as possible.
Yes, it’s not immediate-concern stuff. But looking 10-20 years down the road, how do you see a shift toward autonomous transportation impacting insurers and agents?
Insurance Forums | The autonomous transportation horizon and its impact on insurance
As self-piloted vehicles become a reality, it figures to fundamentally change how vehicles are insured. While still years from widespread adoption, insurers are now challenged to figure out how to adapt coverage to fit an expected gradual transition from individual ownership to fleet ownership of ridesharing autonomous vehicles.
Meanwhile, on the commercial side, removing truck drivers from the equation and the invention of remote control “drone ships” present challenges of their own for insurers. The prospective savings in shipping costs created by automation means manufacturers and shipping companies will no doubt pursue it as quickly as possible.
Yes, it’s not immediate-concern stuff. But looking 10-20 years down the road, how do you see a shift toward autonomous transportation impacting insurers and agents?
Insurance Forums | The autonomous transportation horizon and its impact on insurance