2020 Webinar - Transportation is Advancing Rapidly, Will Commercial Insurance Keep Up the Pace? - December 17

Transportation is rapidly evolving as connected and automated vehicle (CAV) technology becomes more commonplace. Dozens of cities have already piloted driverless shuttles and ridesharing companies have begun carrying some passengers in automated vehicles. Goods are also being carried by CAVs with autonomous trucks successfully navigating cross-country routes, while groceries and packages are being carried the last mile by unmanned vehicles. At this point, most of the focus has been placed on how insurance will adapt to CAVs for personal use, but there is a looming impact on commercial lines that needs to be considered.

We will discuss the state of this technology, specifically taking a deeper dive into connected vehicles, autonomous trucks, and driverless shuttles. This will provide the background needed to explore how CAVs may reshape commercial insurance, including auto, workers’ compensation, general liability, cyber, and inland marine. Actuaries need to gain an understanding of this evolving technology in order to begin quantifying the impact CAVs will have on company stakeholders and to create effective strategies to account for this new risk in the near future.