Part 2 of a two-part series.
As discussed in Part 1, driverless cars will dramatically impact automobile costs, safety, behavior, regulation and lifetime value. During their three-phased rollout (defined in Part 1), autonomous vehicles will also radically affect who’s liable in the event of loss or damage.
As a result, auto insurers must reconsider how they price, underwrite and manage claims. Pricing has historically been based on insured details, vehicle details, vehicle usage and loss history. In the impending autonomous car era, most of these factors will still impact vehicle premiums, but to a different degree.