The vast majority of insurers believe the impact of autonomous vehicles is too far away to begin preparing for, according to “Automobile Insurance in the Era of Autonomous Vehicles,” a survey conducted by KPMG LLP, an audit, tax and advisory services firm.
KPMG found skepticism about the potential transformation autonomous vehicles will bring in the near-term because most insurers believe the changes are 10 years away, or more. Eighty-four percent of surveyed executives said autonomous vehicles wont have a significant impact on their businesses until 2025; 42 percent expect some impact in six-to-10 years. Seventy-four percent said they are unprepared for autonomous vehicles today; and 55 percent said regulators will impede the adoption of autonomous vehicles, which could explain why insurers downplay the more-immediate impact on their business.
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