February 19, 2019
...AND CHEAPER...:
Self-Driving Cars Might Kill Auto Insurance as We Know It (Paul Tullis, February 19, 2019, Bloomberg)
It's impossible to overstate deflationary pressures.The transition points to a larger, existential crisis for the multbillion dollar car insurance industry. If nobody's driving, why do we need auto insurance? Premiums--and company revenues--are based on a driver's likelihood of being in an accident and actual crash rates. With more than 90 percent of accidents caused by human error, taking the driver out of the equation is going to mean big changes for insurers.
Posted by Orrin Judd at February 19, 2019 4:00 AM