"With the potential significant decrease in accidents due to autonomous cars, to say business models of the incumbents in auto insurance will shift dramatically is an understatement."
Steven Schwartz 30th April, 2018 Insurtech Rising365
Not just insurance either; the whole OEM industry underpinning the auto industry will implode with move to autonomous & electric vehicles.
"The truth is, the business model has already been created in form and substance. It exists today – there are insurance companies offering that solution as we speak – and I suspect it will increasingly become the standard. It will be interesting to see which insurance companies become print newspapers, which ones become blogs and which ones have left ancient history to trade perhaps one fiscal year for the opportunity to pioneer the next frontier."
Urge you to read rest of Steven's article linked below and read _
At the intersection of reality, now a reversal occurs – individual empowerment amidst institutional disempowerment – the next generation of insurance companies (insurance-as-a-service, InsurTech, ethical autonomy, you name it) will naturally, inevitably and ultimately rise to the top of the pack. It is only sensible, therefore, to presume that the future of auto insurance in a world where the metadata becomes statistically significant as it intersects with the data of connected vehicles is as transformative as it is fascinating.
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