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Not sure how it would affect prices, but if driverless cars (let's call them autopilot-mobiles) take over the world, they may not be owned by individuals anyway
by squozzer 10y ago
Not sure how it would affect prices, but if driverless cars (let's call them autopilot-mobiles) take over the world, they may not be owned by individuals anyway, but instead bought as-needed from corporations (e.g. "Just $100 a month for the Commuter Plan".) This would shift insurance industry focus from insuring millions of individuals to thousands (or maybe only dozens) of corporations, so they could also save money on advertising. I will miss the gecko. And Flo (a little.)
- shimon 10y agoAnd if it is dozens of corporations, there's no reason they wouldn't just absorb the insurance function. Right now because insurance is bought by consumers there's tremendous value in having a recognizable consumer-facing brand (Gecko & Flo). But if the car provider already has the ongoing consumer relationship, offering the insurance is a straightforward financial feature. Plus they'll be way more informed about the risk characteristics of their customers and vehicles. I don't see any remaining reason for separate auto insurance companies to exist if this version of car purchasing takes over individual ownership.