The Future of Autonomous Vehicles

The following text comes from: Numlock

https://www.bloomberg.com/news/articles/2019-02-19/autonomous-vehicles-may-one-day-kill-car-insurance-as-we-know-it

People being bad at driving accounts for a massive amount of collisions, and collisions are basically the entire reason we have a multi billion dollar car insurance industry. So what happens when we remove human error? A report forecasting the impact of automation estimated that there will be 23 million autonomous vehicles on the road in 2035, 10 percent of cars on the road today. The same study foretasted premiums could drop by 12.5 percent of the total market by then, which could mean that the insurers that have come to rely on car insurance for revenue may be in a bind as fewer humans are involved in the operation of motor vehicles.

 

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