How will driverless cars impact the insurance industry?

In the next decade or so, it’s predicted that our roads will be awash with driverless cars, with estimates that they will account for a quarter of global car sales by 2035. This will present either a huge opportunity for the insurance sector or a challenge that could lead to its downfall. Car insurance has long been a lucrative business, generating billions of dollars in annual revenue and supporting thousands of jobs. So the disruption promised by driverless cars is a genuine concern. The primary challenge comes from the fact that 90 percent of road traffic accidents are caused by… [Continue Reading]