Abstract
Naylor examines the likely impact of the insurance transformation required by each sector of insurance. There is a particular focus on the looming transformation of automobile insurance as this is seen as the first sector to be transformed. There is then a discussion on other insurance sectors, including Life and Health. The chapter argues that while health insurance may transform slower than automobile, its eventual transformation will be nearly as substantial.
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Notes
- 1.
US National Highway Traffic Safety Administration data show that as of 2016, semi-autonomous cars had a 60% lower crash rate than fully manual cars.
- 2.
Note that the Aug 2016 crash of a Tesla car did not involve an autonomous car, but a car with advanced cruise control capacity, which required constant human supervision.
- 3.
- 4.
- 5.
For a summary, see Gibbs (2014).
- 6.
For a detailed cyber security summary, read Morgan-Stanley (2016a).
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Naylor, M. (2017). Impact by Type of Insurance. In: Insurance Transformed. Palgrave Studies in Financial Services Technology. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-63835-5_6
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DOI: https://doi.org/10.1007/978-3-319-63835-5_6
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