Power Shifting: Triple Shift Left in Auto Electronics

By Burkhard Huhnke, VP Automotive, Synopsys Inc.

Power Shifting: Triple Shift Left in...

Electromobility, Big Data and Automation Shifting the Trucking Industry's Future

By Keith Brandis, Vice President Partnerships &...

Electromobility, Big Data and...

Connected Cars: The Future of the Automotive Industry is Here and Now

By Don Gottwald, Chief Strategy Officer &...

Connected Cars: The Future of the...

A New Transportation Mode is Swiftly Arriving: What it Means for the Future of Auto

By Gary A Silberg, Head of Automotive, KPMG LLP

A New Transportation Mode is Swiftly...

Autonomous Vehicles and the Insurance Policies: Where Does the World Stand?

By Auto Tech Outlook | Thursday, July 04, 2019

The insurance sector is trying to work out a comprehensive plan for vehicle insurance policies as autonomous vehicles are about to take the roads.

FREMONT, CA: The day when autonomous vehicles will become mainstream is not far. The rapid development in technology for driverless automobiles is about to change the face of mobility. As a consequence, there will be a lot of advancements in the vehicle insurance sector. 

With vehicles turning driverless and technologies advancing, one can expect better safety and fewer collisions than that caused by manual driving. Although, there is still a lot of time before this stage is reached. Also, it is difficult to predict the trend of accidents; whatever be the trend, one can expect that insurers will face more diverse and versatile changes as autonomous cars get ready to run on software and sensors. The insurance industry will see a shift in the trend of auto claims as to the roles of drivers in accidents diminish.

There are chances of claims going two ways- either the driver or the software would be held responsible in the case of a crash. Hence, insurance companies will have to come up with new ways of quantifying the risks and determining coverage. Hybrid insurance policies are a feasible idea. Conventional coverage will be replaced by policies where there are scopes of liabilities being transferred or shared.

The lack of data related to self-driving car accidents is a possible hurdle for insurance companies in devising policies for autonomous cars. To prevent any confusions regarding claims involving self-driving automobiles, the insurance industry should try to find common ground with manufacturers and close the gaps at the earliest.

Demands Rise For CAV In The UK Market

The introduction of new advance technologies to connected and autonomous...

Demands Rise For CAV In...

Why CIOs Can't Ignore TaaS and Autonomous Car

Logistics is another branch of business which can’t be completed...

Why CIOs Can't Ignore...

AI is watering the roots of the Automotive Manufacturing Industries

Artificial intelligence and HPC system have the potential to transform...

AI is watering the roots...

Self-driving Cars are on the Way to Markets

Automakers, manufacturers, and tech companies are facing a significant...

Self-driving Cars are on...

follow on linkedin follow on twitter Copyright © 2019 www.autotechoutlook.com All Rights Reserved | Privacy Policy
Top