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Insurance cost set to fall in autonomous world

Driverless cars could reduce road accidents by 90%, according to McKinsey, the global management consulting company.Screen Shot 2016-08-24 at 1.57.59 pm

While this might save insurers money on expenses in the near future, demand for insurance will decrease, as the risk of car crashing drops, according to CB Insights.

Some insurers are already rolling out usage based policies, charging consumers based on how many miles they drive and how safe their driving habits are.

Moreover, there are other solutions that insurance companies can use such as telematics. To read more about the future of insurance, sign up to Carandus.com and check our blog.

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