Autonomous vehicle technology could shrink the auto insurance sector by 71% or $137 billion by 2050, according to new research by KPMG.
KPMG has extended its actuarial model by 10 years to 2050, finding that the pace of change has accelerated, pushing projections that illustrate greater declines to the insurance sector than KPMG's previous 2015 study.
|Triple threat
Here are the dominant forces disrupting the auto insurance industry outlined in KPMG's new report, "The Chaotic Middle: The Autonomous Vehicle and Disruption in Automobile Insurance":
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
