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Impact of Automated Vehicles on Motor Insurance Market 

  • September 2015
  • -
  • Frost & Sullivan
  • -
  • 38 pages

Impact of Automated Vehicles on Motor Insurance Market

As Consumer-driven Revenues Likely to Shrink Considerably by 2050, Insurers to Find New Avenues to Offset the Deficit
With the technology steadily advancing from semi-autonomous vehicles to fully-autonomous vehicles, the chances of vehicles meeting with an accident and causing a fatality are reduced considerably. Over the long term, as manually-driven vehicles are replaced by autonomous vehicles, the risk of vehicles crashing is minimised substantially, which will reduce the amount of insurance premiums, thereby having an adverse impact on the current business model of the motor insurance industry. As the vehicle takes over the control of driving, there would be a shift in liability on who needs to pay the premium. This research analysis aims to highlight opportunities and avenues that could offset this deficit.

Key Questions this Study will Answer

- What is the current business environment of the motor insurance industry and how will it evolve?
- What will be the important parameters for premium evaluation? Will there be any new-to-market parameters?
- Do nearly crash-free driverless vehicles spell disaster for the motor insurance industry?
- With the advent of autonomous vehicles, where can insurers look for revenue opportunities?
- What will be the role of OEMs in transforming the motor insurance industry of the future?

Table Of Contents

Impact of Automated Vehicles on Motor Insurance Market 
Table Of Contents
1 EXECUTIVE SUMMARY

Executive Summary
1 Key Takeaways
2 Key Findings and Future Outlook
3 Opportunities from Changing Business Models of Motor Insurance
4 Looming Risk in Profitability of Motor Insurance Business Model

2 RESEARCH SCOPE, OBJECTIVES, BACKGROUND, AND METHODOLOGY

Research Scope, Objectives, Background, and Methodology
1 Research Scope
2 Research Aims and Objectives
3 Key Questions this Study will Answer
4 Research Background
5 Research Methodology

3 DEFINITIONS AND SEGMENTATION

Definitions and Segmentation
1 Product Definitions

4 AUTONOMOUS VEHICLES INSURANCE BUSINESS MODEL

Autonomous Vehicles Insurance Business Model
1 Motor Insurance Business Model
2 Current Key Parameters Considered for Premium Calculations
3 Parameters Considered for Motor Insurance Premium Calculations
4 Key Parameters Affecting Premium for Manual and Automated Cars
5 Parametric Impact Analysis of Automated Driving on Motor Insurance
6 Case Study—Volvo City Safety and Impact on Insurance Claims
7 Impact of Crash Mitigating Technologies on Premiums
8 Motor Insurance Risk and Product Liability Across Automation Levels
9 European Motor Insurance Market Forecast
10 Future Roadmap of the Motor Insurance Industry
11 Business Case in the Motor Insurance Industry
12 Stakeholder Analysis and Value Proposition
13 Possible Scenarios of Motor Insurance Industry Evolution
14 Possible Future Business Models of Motor Insurance Companies
15 Summary of Impact on the Insurance Business Model

5 CONCLUSIONS AND FUTURE OUTLOOK

Conclusions and Future Outlook
1 Key Conclusions and Future Outlook
2 The Last Word—3 Big Predictions
3 Legal Disclaimer

6 APPENDIX

Appendix
1 Methodology
2 Learn More—Next Steps

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