Consulting giant Accenture has published a report predicting 40 percent of cars will be autonomous by 2040s, and what that will do to connected industries.
Read the full article at: readwrite.com
Whether or not this study is accurate or not doesn’t matter. The trend is strong and here’s why the insurance industry should pay attention to it:
1. Self-driving cars are likely to be mutualized – not owned. Uber and others will offer on-demand cars to consumers, removing their need to invest in one of their most costly assets.
2. Responsibility for self-driving cars has yet to be determined but is unlikely to be the passenger.
3. Self-driving cars will be safer and harder to steal.
In short, the car insurance business is dead. So what can you do about this? Read our own recommendations here.