Driverless Cars Aren’t a Threat to Progressive

A Wall Street bigwig is currently claiming that driverless cars could put Progressive out of business. In fact, his firm is betting money on the demise of the entire auto-insurance industry. Supposedly, safer, driverless cars will eliminate accidents and the need for insurance. After considering the argument and looking at some data, I don’t think betting against Progressive based on driverless cars is a very solid thesis.