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Driverless cars are becoming a reality—and their impact on insurance may be even greater than the Affordable Care Act, says Valerie Raburn, vice president and chief innovation officer for the insurance division of Xerox.
Looking roughly 15 years into the future—when experts say driverless vehicles will be sold for commercial use—Raburn sees a world in which elderly baby boomers and driving-averse millennials rely on driverless vehicles for transportation.
As production costs come down, more people will embrace these vehicles, either purchasing them or booking them on a per-use basis. Raburn envisions busy families who need to get to various schools and workplaces booking multiple driverless vehicles to take each of them to their destinations, with the vehicles then returning themselves to a “staging area.”
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