JAPAN INVESTS IN AUTONOMOUS CARS TO AID AGING POPULATION
Posted on Jan 22, 2016 in Technology Impacting Auto Insurance | Comments Off on JAPAN INVESTS IN AUTONOMOUS CARS TO AID AGING POPULATION
Japan has announced heavy investment in autonomous cars in recent years as a means to address concerns presented by its aging population. The Japanese government has allocated 2 billion yen ($16.3 million) a year to develop maps and other technologies in a push to roll out fully automated driving by 2020, when Tokyo hosts the Olympics. Japan’s investment in autonomous vehicles is in...
FTC CAUTIONS AUTO INDUSTRY ON DATA PROTECTION
Posted on Jan 22, 2016 in Industry News, Technology Impacting Auto Insurance | Comments Off on FTC CAUTIONS AUTO INDUSTRY ON DATA PROTECTION
Federal Trade Commissioner Maureen Ohlhausen issued a stern warning to the automotive industry that they will have to take steps to protect customer information or face enforcement actions from her agency. Ohlhausen, speaking at the Washington Auto Show’s Public Policy review panel, cautioned that automakers need to take into account the security of information contained in their...
The Potential Value of Telematics in Insurance Claims Handling
Posted on Dec 11, 2015 in Insurance Developments and Trends, Technology Impacting Auto Insurance | Comments Off on The Potential Value of Telematics in Insurance Claims Handling
Through vehicle telematics, data on a wide variety of driving behaviors (acceleration, deceleration, braking, and more) can be obtained through the vehicle’s engine control units (ECUs). Such data is already being used by insurers in pricing and underwriting, but the new frontier for telematics could be claims handling. According to Donald Light, the director of Celent’s...
US Regulators Seek To Upgrade Crash Safety Ratings and Test Dummies
Posted on Dec 10, 2015 in Industry News, Insurance Regulation, Technology Impacting Auto Insurance | Comments Off on US Regulators Seek To Upgrade Crash Safety Ratings and Test Dummies
The National Highway Traffic Safety Administration (“NHTSA”) has recently proposed to update its five-star crash-test rating system to account for changes in technology. The proposal was motivated in part by an increase in highway fatalities—despite a general decrease in such deaths over the past decade, the fatality rate rose by 8.1% in the first half of 2015. The NHTSA proposal...
New Samsung Development Team To Focus on Autonomous Vehicle Components
Posted on Dec 10, 2015 in Industry News, Technology Impacting Auto Insurance | Comments Off on New Samsung Development Team To Focus on Autonomous Vehicle Components
Samsung has recently announced its intention to create a team, separate from its existing business units, to focus on development of next-generation automobile components. The components will be designed for use in autonomous or internet-connected vehicles. The announcement, Samsung’s first official acknowledgement of its interest in the auto industry, comes on the heels of...
Google’s Autonomous Vehicles: Slow Speeds, Adapting to Emergency Situations, and a Minor Accident
Posted on Dec 9, 2015 in Industry News, Technology Impacting Auto Insurance | Comments Off on Google’s Autonomous Vehicles: Slow Speeds, Adapting to Emergency Situations, and a Minor Accident
As the development of Google’s driverless car progresses, the company recently reported on topics such as its slow speed, it’s reaction to emergency signals, and accident updates. First, one of the vehicles was stopped by police last month for driving too slowly (24 mph in a 35 mph zone). Google explained that although the self-driving car can go faster, slower speeds both assist the...
