United States: Autonomous vehicles will bring down premiums by 2050

According to a recent report conducted by Global Insurance Market Opportunities (GIMO) published by Aon, the purchase even moderate of driverless cars by private individuals is likely to reduce motor premium volumes in the United States by approximately 20% by 2035. This decline may even amount to 40% in 2050, the date when the adoption of such vehicles will become systematic.

Expected on the roads as of 2018, driverless cars are poised to reduce the frequency of claims by 81% but increase the severity due to the high costs of components and to product third party liability.

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