The autonomous car (aka self-driving car) will completely disrupt the personal auto insurance industry, forcing insurers to change their product, pricing and business strategies. Auto insurance CIOs should analyze system, analytics and product configuration requirements.
Impacts and Recommendations
- Most insurance CIOs underestimate the disruption that autonomous vehicles will make on the industry, resulting in not investing in technology and strategies, as well as risking business erosion
- Autonomous vehicle adoption will result in negative financial impacts, causing insurance CIOs to support the launch of new products and services to derive revenue, which will require new IT systems and processes
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