Ensuring the Insurance of the Autonomous Future

That a representative of an insurance company of insurance companies was at International CES2015 to learn about autonomous vehicles and their impact on the transportation of tomorrow is an indicator that the automation of transport is well on its way. In the above interview, Michael Scrudato of Munich RE, points out that autonomous vehicles offer the potential for significant societal benefits, including the reduction in deaths, injury and associated emotional damage from car crashses.

Scrudato explains that they have looked at this market for the past 12 to 18 months, as auto insurance represents about half the U.S. property and casualty insurance industry. From an insurance standpoint, he suggests that they expect insurance regulation will continue to be on a state-by-state basis. The big question is when will autonomy be practical. Whenever that date is, it sounds like the insurance industry will be ready.

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