Yet these are all opportunities for the legacy insurance companies quickest to adapt—as well as startups like Avinew. Policies that protect products will become more widespread, while mobility as a service, Keith said, will mean we’ll want to “insure our safety as a passenger” as well. Without a driver, there’s no driver to insure.
Nationwide thinks the smoothest road ahead will be one on which insurers and automakers each have a hand on the wheel. “We’re working to build deeper relationships with car manufacturers,” Scharn said.
Perhaps that means mergers on the horizon between insurers and automakers? Krause of Accenture said “those conversations are going on as we speak.”