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Driverless Cars to Shrink Insurance Premiums

By Team Writer / a couple of years ago

Driverless Cars should shrink insurance premiums by 20 to 40% by 2050, according to a report, even if there is only limited adoption of driverless cars. This would like be due to accident repair claims falling. The forecast assumes claim frequency would decline by 81%. This could greatly increase insurance industry volatility.

Key Takeaways:

Hello Trouble...
  • According to a report from insurance analyst Aon Benfield, the cost of insuring an autonomous vehicle should fall 20% below current levels and may fall by as much as 40% by 2050.
  • Tesla Motors’ Elon Musk has said his vehicles will include fully autonomous capability by 2018.
  • Personal motor vehicle policies account for 47% of the global insurance premium.

“The cost of insuring an autonomous vehicle should fall 20% below current levels and may fall by as much as 40% by 2050, according to a new report from insurance analyst Aon Benfield.”

http://www.automotive-fleet.com/channel/safety-accident-management/news/story/2016/09/driverless-cars-to-shrink-insurance-premiums.aspx

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Team Writer


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