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Insurance Industry Has yet to Be Disrupted by Autonomous Vehicles

CNBC reports predictions from about half a decade ago that people by now would have the option of owning or hailing autonomous vehicles, and thus have no need for auto insurance, have not borne out. Instead, insurance companies are “embracing” new safety technology and big data. As CFRA Research analyst Cathy Seifert says, “A few years ago there was almost an alarmist mindset. Then there were high-profile accidents with autonomous vehicles, and naysayers were like, ‘I told you so.’ Now we’re not so much preparing for fully [autonomous personal cars and SUVs]. What I do see coming faster is adoption in corporate or commercial vehicles.” With autonomous vehicles likely a decade or more away and cars increasingly loaded up with safety technology, the story reports the adoption rate of “some of the new technology” is not yet high enough “to cut accident rates meaningfully,” which is partly “why auto accidents haven’t dropped much, and neither have insurance claims.”

From the news release of the American Association for Justice.

Bob Kraft

I am a Dallas, Texas lawyer who has had the privilege of helping thousands of clients since 1971 in the areas of Personal Injury law and Social Security Disability.

About This Blog

The title of this blog reflects my attitude toward those government agencies and insurance companies that routinely mistreat injured or disabled people. As a Dallas, Texas lawyer, I've spent more than 45 years trying to help those poor folk, and I have been frustrated daily by the actions of the people on the other side of their claims. (Sorry if I offended you...)

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