The expectations are that the automotive industry can introduce autonomous technology slowly and it can gradually gain momentum. However, even if the transportation industry embraces autonomous technology, that doesn’t necessarily mean the world around the industry will embrace it with the same speed or the same degree of momentum.
“When do we think autonomous vehicle technology will make a huge difference to insurance? Probably not in the near-term. It’s going to take some time before we see the benefits become clear in the industry. What we can say with certainty is that once we have fully autonomous vehicles, motor risks are likely to decrease tremendously, and product liability will become more important than ever. It’s going to be exciting to experience how this technology changes the industry.”