Insurers Should Actively Monitor Automated Driving Technology Developments
Posted on Jul 20, 2016 in Technology Impacting Auto Insurance | Comments Off on Insurers Should Actively Monitor Automated Driving Technology Developments
Automated technology will bring both new challenges and new opportunities for insurers. Although insurers may face the challenges associated with a shrinking market where manufacturers absorb more liability risk, insurers also have new opportunities. For example, such opportunities include new and innovative ways to develop joint partnerships, like Japan’s Toyota Motor Corp’s and Aioi Nissay Dowa Insurance’s joint development of a car insurance product. In addition, insurers can take advantage of new technology innovations and the increased use of sophisticated telematics to help underwrite auto policies.
