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Connected cars drive insurers to rethink coverage issues

New technology is changing the auto insurance landscape.

By Nigel Walsh | Updated on April 27, 2015

Behind new fuel cells, connected cars are the next biggest disruptor driving innovation in the automotive industry. Today’s cars can already park themselves, help drivers avoid traffic, and automatically find the closest gas station when the tank is low. In the very near future it will be the norm for cars to be autonomous. Connected cars are aligning with car owners’ digital lifestyles and offer a safer, smarter, and enhanced driving experience.

For insurers, however, connected cars are altering the traditional landscape of auto insurance and posing real challenges that require insurers to rethink policies, claims processing, and their overall business models. Insurers who evolve with the automotive industry are the ones who will secure their place as industry leaders going forward.

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