Autonomous Vehicles in Insurance – Thematic Intelligence

Autonomous Vehicles in Insurance Report Overview

The emergence of Level 4 and 5 autonomous vehicles will alter how liability is determined in the motor insurance sector. Countries are updating traffic regulations to consider how self-driving vehicles should be legislated once driver fault is no longer a cause of incidents. Before Level 4 autonomous vehicles become mainstream, vehicles will be increasingly fitted with advanced driver assistance systems (ADAS) such as autonomous emergency braking (AEB) and automated lane-keeping systems (ALKS). Many insurers are already offering reduced premiums for cars fitted with AEB, such is its ability to reduce collisions, showing an openness to the role of technology in improving road safety, despite its current cost.

The autonomous vehicles in insurance thematic report outlook offers an in-depth analysis of the key trends that will influence the theme. The report also covers value chain analysis and information about the key companies making their mark within autonomous vehicles in the insurance theme. This thematic study also provides a non-life insurance sector scorecard with a thematic screen, valuation screen, and risk screen.

Autonomous Vehicles in Insurance – Key Trends

The key trends that will shape autonomous vehicles in the insurance theme are technology trends, macroeconomic trends, regulatory trends, and industry trends.

Technology Trends: Building automotive brains, computer vision alternatives to LiDAR, and growth in the popularity of edge computing are the key technology trends that will influence autonomous vehicles in the insurance theme.

Macroeconomic Trends: Chip shortage, rationalization, the emergence of Transport as a Service (TaaS), and the impact of automation on jobs are the key macroeconomic trends that will impact autonomous vehicles in the insurance theme.

Regulatory Trends: Regulatory side effects, safety regulation, and surge in regulation for enhanced ADAS and autonomous driving systems are the regulatory trends that will influence autonomous vehicles in the insurance theme.

Industry Trends: Gradual embrace of driving-assistance technology, challenges associated with ADAS and more in-car technology, and autonomous vehicle trials and studies are the industry trends that will influence autonomous vehicles in the insurance theme.

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Autonomous Vehicles – Key Value Chain Analysis

The key value chain components of the autonomous vehicles theme are hardware, software, and services. As some automobiles advance towards self-driving vehicles controlled by onboard networked processors with AI algorithms fed by data from multiple sensors, a layered value chain emerges.

Hardware: This includes all the necessary physical components, assemblies, and systems that are required specifically for autonomous vehicles to be produced and sold. Among these, being perhaps the most distinguishing features, are semiconductors and processors that are used to replace the human driving task. These can be considered the building blocks of autonomous systems. They can be split into processors, Wi-Fi chips, and chipsets in which progressively more functions are handled by hybrid technology.

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Autonomous Vehicles in Insurance – Competitive Landscape

The report highlights the companies that will make their mark within the autonomous vehicles insurance theme.

Public companies: The key companies that will make their mark within the autonomous vehicles in the insurance theme are Alphabet, Aviva, AXA, Baidu, and Didi Chuxing.

Alphabet: Alphabet’s Waymo is regarded as the world leader in the development of autonomous vehicles, primarily for use on roads in a shared robot taxi ride-hailing service. While there is ample competition, Waymo’s long history in autonomous vehicle development, extensive real-world and simulated miles-driven libraries, and deep financial backing from parent Alphabet all combine to form a compelling overall package.

Leading Autonomous Vehicles in Insurance Companies

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Non-life Insurance Sector Scorecard

The non-life insurance scorecard approach predicts tomorrow’s leading companies within each sector. Our sector scorecards have three screens: a thematic screen, a valuation screen, and a risk screen.

Thematic Screen: Our thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.

Valuation Screen: Our valuation screen ranks our universe of companies within a sector based on selected valuation metrics.

Risk Screen: Our risk screen ranks companies within a particular sector based on overall investment risk.

Non-life Insurance Sector Scorecard Analysis

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Key Highlights

• Accenture and the Stevens Institute of Technology estimate that gross written premium (GWP) in the personal motor line will fall by 40% by 2040.
• The report also estimates that the market for product liability will increase by 14% over the same time due to the emergence of autonomous vehicles.
• The AAA estimates that contemporary advanced driver assistance systems will add around 33% to the cost of claims in 2024.

Reasons to Buy

• Visualize the growth potential of global autonomous vehicle insurance markets and how these vehicles will transform the motor insurance sector.
• Identify key challenges and opportunities arising within the space.
• Benchmark yourself against the progress of leading insurers within this emerging sector.