Driverless cars: ‘Once-in-a-lifetime opportunity for brokers’

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Driverless cars, their safety and insurance are the most debated topics in the insurance industry. According to the managing director of AA Insurance, Janet Connor, the age of connected cars will give more opportunities for brokers to grasp, says an article on InsuranceAge.

This is contrary to a popular belief that driverless cars will destroy the face of the current motor insurance market. Connor was speaking at the Connor the 2015 British Insurance Brokers’ Association conference in Manchester.

She said that the safety features of the new car technology will help reduce collisions and give car manufacturers more data on performance of the car and on driver behavior too. This information might lead manufacturers to provide their own insurance for drivers of their cars with premiums reflecting driver behavior.

All in all the advent of connected cars might end up being once-in-a-lifetime opportunity for brokers to play in this evolving market, said Connor. Brokers, she believes, are the best placed in terms of flexibility and choice to help their customers adapt to the technological changes in the motor market.

It might take a long time to see driverless cars mixing with the traffic. Research however suggests that most drivers will not trust the technology very easily.

Read the full article here.

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