As the transition from automobile ownership to usership inexorably progresses and autonomous driving gains prevalence, automotive risk will shift from individuals to businesses. Such a shift would transform auto insurance, given how businesses differ from individuals in terms of the risks they insure against. With the Japanese P&C insurance industry now dependent on auto insurance for 60% of its premium revenue, it urgently needs to prepare for the changes that will ensue from vehicular autonomy.
About the Author
-
Tomohisa Shidara
Group Manager
Insurance Integration Design Department