“Next big thing”: Autonomous cars will revolutionize transportation Car insurance industry

The self-driving car is a recent development in motoring. Tesla’s Autopilot system has been leading the charge. The UK Department for Transport stated that automated lane-keeping system (ALKS), would become the legal first form of hands-free driving.

Express.co.uk exclusive interview: He said that although transport is evolving faster than ever before, the insurance industry cannot keep up.

“The rise of electric vehicles, the new business models like ridesharing and autonomous cars pose enormous challenges for traditional insurance companies.

Autonomous cars may be the next step in autonomous car technology. The features that were developed from autonomous vehicle testing have been integrated into the new technology, along with advanced driver-assistance system (ADAS), and other safety features.

I believe this trend will continue. Autonomous testing can help to improve the safety of new vehicles.

Mr Klinger stated that Flock has identified a number of main problems surrounding autonomous cars. These include uncertainty around the risk and adoption curve and whether there will be an increase in the use of this technology.

He mentioned his concerns about liability for accidents. Some wonder if the car owner, or technology, will be held responsible in an accident.

He said, “The traditional model of waiting for claims to be paid won’t work with modern customers.”

These buyers get proactive and predictive engagement from many products and services (from travel to banking and beyond), so why shouldn’t their insurance partners offer the same value?

It will become the norm because customers expect no less.

Flock, Britain’s National Mapping Service, was recently acquired by Ordnance Survey. Flock is now looking to grow further to challenge the insurance industry.

Paul French, OS Chief Proposition and Innovator, commented that “we’re excited to invest in Flock, who are revolutionizing the insurance industry, and expanding into new exciting markets including connected and automated vehicles.”

Ed Klinger spoke out about the partnership. He said that “we’ve been working closely with Ordnance Survey ever since Flock was established and they’ve provided their data for our risk engine. We plan to continue using it.”

We often learn from each other and share ideas, and we plan to double down.

Publited Sat, 11 September 2021 at 03:07:05 +0000

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