With the autonomous car, it is no longer individuals who will have to be insured but entire fleets on a global scale, with a multitude of potential persons responsible in the event of accidents.
The autonomous car is about to completely reshuffle the cards in the auto insurance market. Because in the future, it will no longer be individuals who will have to insure but entire fleets of cars on a global scale, with a multitude of potential persons responsible in the event of an accident.
A prospect that makes reinsurers salivate. These companies, whose traditional business is to cover the insurers themselves, are today in the best position to compensate risks on a global scale.
- Traditional companies prepare the response
It is to them that the manufacturers, developers of on-board technologies and companies that will control fleets of autonomous taxis such as Baidu, Google, or Uber will turn. The Chinese Baidu has just announced a partnership with the reinsurer Swiss Re.
The partners of insurers are therefore becoming their competitors in the autonomous car market. In France as elsewhere, traditional companies are organizing the response. There is only one solution to stay in the loop: join forces to guarantee co-insurance contracts, and absorb the cost of risk together.
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