Insurance business for autonomous vehicles
Saturday, 05 20 2017, Category: Technology, Country: United States
Insurers worry that the introduction of self-driving cars will shrink auto insurance premiums, but these decreases may be offset by an annual $15 billion additional business from new insurance product lines centred upon autonomous vehicles, according to a US study by Accenture.
By 2026, insurers will begin to see auto insurance premiums drop due to the rollout of autonomous vehicles; by 2035, the reduction could be as much as $25 billion, or 12.5 percent of the total US market, according to the study named “Insuring Autonomous Vehicles Opportunity Between Now And 2025”.
However, models designed by Accenture in collaboration with Stevens Institute indicate that these decreases will be offset by new insurance product lines centred upon autonomous vehicles.
Source: Intelligent Insurer