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Tuesday, February 21, 2017
Who Will Insure Self-Driving Cars?
6 days ago
An important point that this article misses, ad perhaps a question that needs to be answered first is, 'who will own driverless vehicles?' Once we know the answer to this, then we can begin to solve the insurance riddle.
Driverless cars are going to bring a change in the ownership . We currently 'own' vehicles as we need them on our driveways, in our garages and parking lots ready to be used when we need them, but with self driving vehicles, do we need them sitting there? If you think about it, a car spends most of its life redundant so it really is a very inneficient product to own from a financial sense. There is good reason for a self driving car manufacturer to buy out a ride sharing service in the future (or vice-versa) and offer us Robo-taxi services where we can summon a vehicle using our phone app or smart watch and pay per ride or even have a monthly subscription / price plan, similar to mobile phone contracts. This will have other knock on effects too, such as lower car sales for manufacturers.
12 days ago
Because more vehicles will be directed by ever-more computer software we will experience increasing incidences of vehicle misbehaviors. This because software quality is about 30 fold short of Zero Defects and there is little effort to ensure zero-fault software. The cited Tesla stat of 0.7 with respect to 2.0 is naive because the variety of situations faced by Tesla tests to date is at least an order of magnitude less.
Insurance rates may reflect the amount of computer code in a vehicle rather than miles driven or replacement cost of vehicle.
It is very important that everyone dependent on Zero Defect quality pursue ways of producing and certifying zero-fault computer code.
13 days ago
Granted, premiums should decline but so should claims.
The industry that could really take a hit is collision repair shops. If the overall number of accidents decline significantly there will be much less demand for those services.
14 days ago
Who will insure self-driving cars? I think we are up for the challenge.
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