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How Insurance Markets Will Expand in the Age of Autonomous Vehicles

Though it’s estimated that by 2025 auto insurance premiums will drop by $25 billion as a result of the adoption of driverless cars, the insurance market is expected to recover through new lines of coverage, according to a report by market analyst Accenture released last year. In fact, new coverage lines will generate substantially more premiums than are lost – to the tune of almost $81...

Some Predictions for Auto Insurance in 2018

The CEO of telematics company TrueMotion recently predicted that 2018 would see some changes in the auto insurance industry. He predicts that customer experience will become paramount for insurance companies, likely meaning a change in claims, among other things. Carriers will increase their use of usage-based insurance and mobile telematics. And “consumers, regulators, and insurers”...

Waymo Driverless Ride-Hailing Service Will Insure Passengers Through Insurance Tech Start-Up

Waymo LLC recently announced that it will use Trov Inc., a five-year old insurance start-up, to insure riders using its driverless ride-hailing service. Waymo, which is the autonomous car unit of Alphabet Inc. (Google’s parent), is hoping to beat others in the auto and ride-hailing industry to introduce its fleet of driverless vehicles; Waymo CEO stated in November 2017 that they were...

Artificial Intelligence: Not Just for Driving

Could artificial intelligence be coming to an insurance company near you? Some insurers are beginning to explore the use of “chatbots” and other forms of AI to assist in the claims and underwriting process. In the auto claims context, a bot could be used to connect to the electronic devices in a connected car and transmit information directly to the insurer. It could also be used to...

Videocast: Insurance and Automated Transportation

The question isn’t whether automated technology will impact the auto insurance industry, but how big that disruption will be and when that disruption will happen. In their videocast, Insurance and Automated Transportation, Eversheds Sutherland (US) LLP Partner Kymberly Kochis and Eversheds Sutherland (International) LLP Partner Fabian Volz discuss numerous ways the insurance industry...

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