Swiss Re and tech firm say massive premium drop in future due to smart cars

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Swiss Re and tech firm say massive premium drop in future due to smart cars

14 largest vehicle markets in the world are expected to decline by $20 billion

Staff on May 16, 2016

Okay, so we constantly have to hear from customers (and we know already) that the cost of auto insurance is just mildly insane, and you’ll note that the legislative changes aren’t exactly clear to everyone yet. But in the UK, they’re not much happier with their rising premiums.

But according to the Guardian, Swiss Re and technology group, Here, expect a massive drop in those premiums down the road thanks to driverless vehicle technology, and not just in Britain where barely a snowfall ever touches the A roads, but in other major global markets as well. They anticipate premiums in the 14 largest vehicle markets in the world are expected to decline by $20 billion U.S. by 2020 alone.

So who’s going to shoulder the cost? Ummm… Well, uh… as it turns out, auto manufacturers.

Read why and more about the projections here.

 

 

 

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Swiss Re and tech firm say massive premium drop in future due to smart cars