According to KPMG report, shifting driving risk to auto manufacturers and adoption of mobility-on-demand will significantly impact insurance business.
Autonomous vehicle technology could shrink the auto insurance sector by 71 percent or $137 billion by 2050, according to new research by KPMG, titled The Chaotic Middle: The Autonomous Vehicle and Disruption in Automobile Insurance. KPMG has extended its actuarial model by 10 years to 2050, finding that the pace of change has accelerated, pushing projections that illustrate greater declines to the insurance sector than KPMG’s previous 2015 study. It also shows an increasing need for new types of insurance
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.