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In “Automobile insurance in the age of autonomous vehicles,” a survey from KPMG, insurance company executives answered questions about data ownership, Google’s role, and more. Read on for the most important tidbits for insurance technology leaders.
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1. Data Ownership

Nineteen percent of respondents said that “owning, controlling, and monetizing the data” from driverless cars was among the two most critical areas of focus for insurance companies. This ranked third behind understanding the underwriting impact and understanding consumer acceptance.
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2. More data ownership

Four in five respondents said that “established technology firms” like Google and Intel would own autonomous vehicle data. A further 71% predict ownership will lie with the original equipment manufacturers (OEMs), like Ford and Mercedes Benz.
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3. Google’s role

Respondents expect Google to have a larger role in the insurance industry as driverless cars proliferate. Almost all (87%) expect the company to control driving data, and 23% predict the company will become a carrier itself. Fifty-five percent anticipated Google having a role in insurance distribution, but it already does with the launch of its Google Compare site earlier this year.
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4. Different competitors

OEMs are expected to start providing insurance on their own in the driverless car era, respondents said at a 58% clip. Start-ups and technology firms, as well as capital providers, are also on the radar as potential competitors going forward.
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5. Tech investment

Twenty-eight percent of insurers report they are making technology investments in anticipation of the autonomous car era. That leads “people” and “enhanced processes,” but most carriers are making no investment at all, according to the survey.