Just a short while ago, making a presentation about driverless vehicle technology to an insurance crowd was an uphill battle of denial. Today, the conversation has changed. Munich Re is one of the insurers that have joined the conversation through a number of activities, including becoming the first insurance industry member to join the University of Michigan’s Mobility Transformation Center.
Connectivity is also presenting challenges for insurers that may also result in premium decline.
The Casualty Actuarial Society has an Automated Vehicles Task Force to make sure casualty actuaries have the ability to partner with engineers and researchers to properly understand and insure this challenging risk. Insurers will need to get involved in pilots that will provide insight required to remain relevant in this space.à
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