A survey conducted by J.D. Power Pulse has highlighted the myriad ways in which automated vehicles is set to shape the Property and Casualty (P&C) insurance landscape, and how insurers must adapt to this drastically altered mobility or risk losing ground to InsurTech.
While only 22% of the 1,024 U.S. consumers surveyed indicated a likelihood of purchasing a highly-automated/self-driving vehicle at this time, 70% expect insurance carriers to respond with discounts for semi-autonomous vehicles that provide enhanced safety features, with 40% willing to switch their auto insurance to carriers that do.
With several production cars around the world already coming from the factory with partial automation features, these figures highlight an immediate need for innovation and adaptability from the industry.
Additionally, of those surveyed by J.D Power Pulse 15% said that lower insurance premiums would be a factor in purchasing an automated vehicle, as well as fewer accidents (26%) and less driving stress (24%).
The survey concluded that 40% of consumers felt drivers hold some responsibility when an accident does occur in an automated vehicle.
This compares to just 22% who said the Original Equipment Manufacturer (OEM) or manufactures of the autonomous sensor technology are to blame.
