Any significant change to the automobile insurance market has a dramatic impact on the insurance industry as a whole. In most mature markets, automobile insurance is the single largest line of business, representing 42 percent of gross written premium in the U.S., according to a Best’s Special Report on the property and casualty market, where liability (including commercial auto) represents 26 percent of the overall market.

At one point, it was believed that telematics usage-based pricing was going to change the face of auto insurance but really, telematics is the Betamax of insurance in a digital world: an interesting footnote that will soon be irrelevant. The real seismic event in the industry will be the emergence of the autonomous car.

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