The U.S. House of Representative Financial Service Committee Housing and Insurance Subcommitee met yesterday to examine the development of the autonomous vehicle and its effect on the future of automobile insurance. For the first time, emerging automobile technology is intersecting with the financial industry, changing the business of property and casualty insurance.
The hearing examined the relationship between insurance companies, automobile manufacturers, and technology companies to better understand the impact of autonomous vehicles on the future of insurance policy.
“Technology is catching up with movies like Blade Runner, Demolition Man, and Minority Report,” said Subcommittee Chairman Sean Duffy (R-WI). “The