Insurers should actively monitor the progress of artificial intelligence and consider the possible positive and negative implications of a broader usage of AI.
The autonomous vehicle market may provide the auto insurance industry with a $81 billion opportunity between 2020 and 2025, according to Accenture and the Stevens Institute of Technology.
Automating risk management, rating, quoting and renewals, integrating massive disparate legacy systems, and redefining age-old business models essentially all at once is no small task.
Insurance representatives told California lawmakers last week that access to data generated by autonomous vehicles will be key to their industrys ability to write policies and assess liability in the emerging market.