Insurance coverage for autonomous vehicles will bring $81 billion in new premiums to the insurance industry over the next eight years, according to a report from Accenture and Stevens Institute of Technology.
These revenues will be derived from three new coverages for risks related to the new technologies of vehicles, according to the report, Insuring Autonomous Vehicles: An $81 Billion Opportunity by 2025. The three new lines — cybersecurity, product (software and hardware) liability and public infrastructure insurance for autonomous vehicles — could generate a total of $81 billion by 2025, the authors contend.
This boost in premiums related to the auto sector and its technology will be followed long-term by a decline in auto insurance business.
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