INSHUR appoints Guy Farley to UK board of advisors

INSHUR has added Guy Farley, co-founder and former CTO of ManyPets, to its UK board of advisors as it ramps up efforts in AI-driven and autonomous vehicle insurance https://lnkd.in/d5FCr9CT

"Traditional motor insurance assesses the driver, the vehicle and how it is used. For autonomous vehicles, insurers must also consider the software, hardware and regulatory environment," Jonathan Dye, Head of Motor at QBE Europe, tells Fleet News. "Yet," said Jonathan, "there is currently little exposure, accident or loss data to guide underwriting, making liability assessments and risk pricing far more difficult. This also introduces new vulnerabilities, such as software updates, cyber-security and potential system failures." https://lnkd.in/dcfZUXk6

Automotive innovation is moving at record speed. NAMIC’s new paper explores how autonomous vehicles will impact insurers, policymakers & the public. Read here: https://bit.ly/48IFv4Q #NAMICConnects

The Inexcusable Cost of Imperfection: Why We Must Accelerate the Autonomous Revolution Why are we tolerating needless deaths? The evidence is overwhelming: human drivers are, by far, the most dangerous variable on our roads. The time for regulatory caution is over; the time for moral action is now. We are currently accepting preventable fatalities and severe injuries simply by clinging to the deeply flawed status quo of human-controlled vehicles. Consider the data amassed by Waymo’s self-driving vehicles, a collective database spanning over 71 million miles of real-world experience. The numbers are not just compelling—they represent lives saved: • 88% fewer incidents resulting in serious injuries. • 79% less frequent airbag deployment. • 78% fewer overall accidents that cause injury. These statistics expose the catastrophic dual standard we live by. How can regulators and politicians—whose mandate is public safety—insist on an imperfect human system whose driving record is demonstrably worse, thereby tacitly accepting an incremental number of associated deaths? The only rational counter-argument that could possibly slow this vital transition—and one that serves a narrow set of financial stakeholders—is the economic disruption to the insurance industry. With dramatically fewer accidents, insurance companies are guaranteed to take a massive financial beating. Surely, our regulators and politicians are not so compromised by financial self-interest or lobbying interest that they would knowingly allow a preventable public safety crisis to continue. We must demand an end to this dangerous regulatory drag and accelerate the adoption of autonomous technology to save lives today.

Blame-Free Robotaxi Crashes Are Still Crashes: The tricky logic behind robotaxi crash metrics. In this Substack post I discuss which robotaxi crashes should "count" for robotaxi safety metrics. Some say that all crashes should count. Some say that only at-fault crashes should count. And some discussions about robotaxi safety say things like “no fatal crashes” when they should be saying “no at-fault fatal crashes” — which are two quite different things. The arguments for and against using blame as a filter for which crashes count is tricky. So let’s try to sort that out. For example, when some robotaxi company claims that their vehicles harm fewer people than human-driven cars, should that be based on all crashes or just at-fault crashes? We argue that blame-free is the best default metric. Blame-based metrics could have their place, but currently suffer from significant validity issues that need to be worked out before anyone should believe that at-fault crashes is predictive of net safety outcomes. Or perhaps the right answer is to report both metrics if what we care about is transparency and improving safety rather than claiming victory. https://lnkd.in/eK9D2SdN

But if cars can handle the driving… why do we still need car insurance? And will rates really go down when these vehicles become mainstream? I was trapped at a red light and this thought occurred. No stop signs or red lights and no steering wheel are outside the scope of this convo... Brainstorming: • Robotaxis and autonomous trucks (level 4) are out there, but you can’t actually buy a car yet that does it all for you (level 5). • The more safety features, the fewer accidents, at least in theory! Waymo’s robotaxis have significantly fewer injury crashes than humans in some cities. Still, for everyday cars, the safety impact is mixed, and drivers are still on the hook. • As self-driving tech gets smarter, insurance is expected to change. Liability may shift from drivers to carmakers and software companies. Product liability coverage could become the new star of the show. • Even with perfect tech, owners may always need some coverage? Routine maintenance, tech malfunctions, or old-fashioned human error? Here’s my big question for you: What do you thing the future holds? source: https://lnkd.in/gR68TfkN

Robotaxis are set to shake up Australia’s motor insurance market I was recently featured in Insurance Business Australia discussing what autonomous vehicles mean for insurers, brokers, and clients. With liability shifting from drivers to technology providers, and new risks like cyber exposures emerging, the insurance industry needs to rethink how policies are structured and delivered. It’s an exciting time of change, and a chance for insurers and brokers to get ahead of the curve. Read the full article here: insurancebusinessmag.com https://lnkd.in/gSbn96Mw #InsuranceIndustry #MotorInsurance #InsuranceInnovation #RiskManagement #Technology #AutonomousVehicles #FutureOfMobility #Robotaxis

Advanced Driver-Assistance Systems (ADAS) are expected to have a significant impact on the auto insurance industry, driving near-term frequency changes to the sector, although autonomous vehicles could have greater ramifications longer term, according to a recent Evercore ISI. https://lnkd.in/e5DfW3zd

Thousands of stranded vehicles in the #UK have been rescued by The AA’s ‘freewheeling hub’, since its pandemic launch five years ago. Recovering on average almost ten thousand vehicles per year, #AA patrols have used the invention almost 10,000 (9,500) times in the past year alone. The ‘freewheeling hub’ tows EVs and 4x4s on two wheels that would otherwise be stranded. A key initiative to develop comprehensive EV support for drivers, the ‘freewheeling hub’ has resulted in shorter waiting times and reduced #CO2emissions for breakdown recoveries. By eliminating the need for a second flatbed truck to recover hard to tow vehicles, the freewheeling hub saves around 235 tonnes of CO2 emissions each year – contributing to the AA’s ongoing commitment to reduce operational emissions to net zero by 2035. The AA’s research and development department rolled out the innovation in 2021, devised as a solution for AA patrols to safely tow vehicles, including electric vehicles (EVs) and SUVs, which normally cannot be ‘lifted’ and towed on two wheels. Some manufacturers recommend against towing EVs, as the car’s motor is always mechanically connected to the wheels and does not have a true ‘neutral’ gear. The first order for the device was signed on 15 September 2020. By mid-2021 the Freewheeling Hub had been successfully rolled out along the entire fleet of AA patrol vehicles. It is now used extensively to help move EVs and SUVs that cannot be repaired at the roadside. The ‘freewheeling hub’ is part of an extensive portfolio of services designed to support business fleets and their EV drivers. including EV driver training and eco-driving courses, driver behavioural change and wellbeing support with #Drivetech, help with journey mapping, in addition to dedicated #EV insurance and accident management support and EV servicing maintenance and repair with Prestige Fleet Servicing. James Starling, director, AA Business Services said:  “We pride ourselves on being always ahead, and the ‘freewheeling hub’ really has been a game changer for the quality and speed of service that we can offer at the roadside. The drivetrain of an EV is always mechanically connected to the wheels and does not have a true ‘neutral’ gear, so we knew we needed a practical solution to enable towing. “Thanks to the work of our R&D team at The AA, we were able to launch a device that has transformed our roadside operations to be future ready as the number of EVs, old and new, on the road continues to grow.” “The ‘freewheeling hub’ has helped to recover an average of almost 10,000 vehicles a year, with an average tow distance of 30 miles using a compact recovery trailer (#CRT). That’s thousands of vehicles that previously would have needed a flatbed recovery vehicle to safely take them from the roadside. This not only saves time, it reduces carbon emissions too. As a classic work of AA innovation and forward thinking, we’re extremely proud of it.” Image courtesy of The AA

The future of autonomous vehicle (AV) insurance will be shaped as much by access to the right data 📊 as by product innovation producing next-gen policies 📑. S&P Global's latest analysis highlights that data access is quickly becoming one of the biggest barriers to AV insurance innovation. With limited visibility into this complex and fast-evolving risk, insurers face mounting challenges: 📄 Underwriting must rely heavily on qualitative inputs and thin or theoretical historical risk data ❓ Pricing accuracy is ambiguous; growing exposure and miles make the problem more acute 🕵 Claims adjudication and resolution could be hampered by data access constraints This data gap is one of the biggest barriers holding back AV insurance innovation and expansion. At Simulytic, we exist to empower insurers with data-driven intelligence built ground-up for AV risks: ✅ Providing transparent, independent, evidence-based synthetic data on AV deployments ✅ Producing consistent, comparable insights that support better, AV-tailored risk decisions ✅ Creating alignment between AV developers and insurers so that both can confidently manage risk AVs are hitting the road today. Insurers that meet the moment and leverage deep data insights from sources like simulation to quantify AV risk will shape the products and partnerships of tomorrow. https://lnkd.in/gcKwtnjE #autonomousvehicles #avinsurance #underwritinginnovation #riskintelligence