We’re used to complaining about regulation. Sure, post 2008 we understand the need for it but it’s generally considered to be simply one of those unwelcome costs of doing business. I just wonder whether insurers shouldn’t look at regulation from a slightly different perspective, and see it as in some sense the handmaiden of innovation—and… No innovation without regulation: The case of the driverless car ..read more

Car manufacturers, technology experts and other industry insiders tend to lead the public debate on self-driving cars. However, it’s always a good idea to also check the pulse of the people who matter the most—consumers. Two major surveys on American consumers’ attitudes toward autonomous vehicles came out in 2019, revealing interesting nuances regarding both age… Consumer attitudes toward self-driving cars vary by age, gender ..read more

While the last couple of years saw much optimism and enthusiasm about the driverless-car technology becoming mainstream very quickly, 2019 saw a shift in the public discourse back to reality and tempered expectations. “Despite high hopes, self-driving cars are way in the future,” announced a front-page story in The New York Times in July. “A year… Driverless-car companies rein in expectations ..read more

After a yearlong regulatory traffic jam, Congress will try one more time to create a bipartisan bill on self-driving cars and is calling for help from industry stakeholders to draft it.  “The House Committee on Energy and Commerce and the Senate Committee on Commerce, Science, and Transportation are working on a bipartisan and bicameral basis to develop… A new start for driverless-car legislation ..read more

The great debate this year involving self-driving cars has been whether the new technology will completely disrupt or present new opportunities for the auto insurance industry. First came the news of a brand new insurtech entering the market in late January. Avinew  is the brainchild of venture capitalist and entrepreneur Dan Peate, who wanted to… The future of auto insurance with self-driving cars ..read more

Highlights Scott Walchek is a serial entrepreneur who’s successfully exited four technology start-ups. In this interview, he highlights the micro-pivots that have gotten Trov to where it is today. Several considerations led to the company sunsetting its direct-to-consumer, on-demand insurance application—including high customer acquisition cost (CAC), the challenges of being a new entrant in an… The art of the pivot, with Scott Walchek (podcast ..read more

Highlights An Insurance Bureau of Canada (IBC) survey found that most people perceive self-driving cars to be safer than conventional cars. Insurers should play an active role to engage governments and regulators as new technologies, like self-driving cars, become more prevalent. As regulators, insurers and governments look to update laws to accommodate new technologies and… The post When technology outpaces regulation, with Ryan Stein (podcast) appeared first on Accenture Insurance Blog ..read more

Highlights IBC recommends a two-part framework to update auto insurance laws to deal with the adoption of self-driving cars: a single insurance policy that covers both conventional and automated cars, and a data-sharing policy to help identify the cause of accidents. Self-driving cars will create challenges for insurers, and will notably introduce new risks with… The post How to insure self-driving cars, with Ryan Stein (podcast) appeared first on Accenture Insurance Blog ..read more

Highlights In this episode of the Accenture Insurance Influencers Podcast, we speak with Ryan Stein from the Insurance Bureau of Canada (IBC). Currently, humans account for 90 percent of vehicle accidents—an assumption that’s baked into auto insurance policies around the world. Our current auto insurance policies aren’t equipped to deal with self-driving cars. Notably, if… The post Self-driving cars and insurance, with Ryan Stein (podcast) appeared first on Accenture Insurance Blog ..read more

We’re excited to announce the impending launch of the Insurance Influencers podcast. In this new podcast from Accenture, we’ll interview some of the insurance industry’s most profound thinkers. Where do they see the industry’s biggest opportunities and challenges? How can incumbent insurers position themselves in an increasingly competitive and dynamic business environment? We’re working hard… The post Insurance trends, with Ryan Stein (podcast) appeared first on Accenture Insurance Blog ..read more