There are very few sure things in the tech world, but the self-driving car is a slam-dunk certainty. We know that every automaker is working on it, but it was really driven home to me (no pun intended) recently while talking to a colleague at one of the largest insurance companies in the country. They’re scrambling for ways to uncover new revenue sources unrelated to cars. Why?
“All our planning is wrapped around automobile-related revenues being down by 50 percent at the end of ten years,” he said. “The self-driving car is going to eat us alive: Fewer people will be buying insurance, and those that do will be paying smaller premiums.”
Are they overreacting? Are their actuaries fantasizing a Buck Rogers future full of personal jet packs and food synthesizers?