Auto Insurance Voices Caution As Self-Driving Cars Near

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-20% to over -40% by 2035-2050. However, “we as an industry need to act quickly to ensure that we have the products available to align to the new paradigm; if we fail to do so, we only invite disruption.”

  • SOMPO Holdings, one of the top insurers in Japan, sounded more dismissive of the threat than its European peers in a May 2015 earnings call, although it conceded that a reduction in premiums is to be expected: “A world where we see 100% of the vehicles as self-driving cars on the road will not come. [However,] there are cars already available with safety driving assistance system, which receives some discount premium and we would probably have to apply something similar to that. […] So self-driving cars plus cars driven by people and totally manual cars. So three types of cars will co-mingle on the road and this co-mingle situation will continue for 10, 20 years [will support a smooth long term decline either than immediate change.]”

Methodology

This study is based on statistical analysis provided by Sentieo Document Search. Sentieo Document Search is an extensive database comprised of the filings of current and former publicly-traded companies. Searchable documents include S-1s, 10-Ks, 10-Qs, press releases, presentations, earnings transcripts and analyst reports. In total, the database holds more than 9.4 million documents. The search engine allows researchers to focus queries by sector, sub-sector, market-capitalization and other financial metrics. The tool also automatically provides results for synonyms and related queries where relevant. In this study, we focused on the theme of self-driving cars. Related search terms included “autonomous car” and “autonomous vehicle.”

Article by Sentieo

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