The Effect of Autonomous Trucking on Commercial Automotive Insurance
Open Access
Author:
Winters, Lisa
Area of Honors:
Risk Management
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
Ron Gebhardtsbauer, Thesis Supervisor Steven Lee Putterman, Thesis Honors Advisor
Keywords:
actuarial autonomous technology insurance
Abstract:
This paper analyzes how commercial automotive insurance will be affected by the introduction and adoption of autonomous trucks by businesses. With an increasing number of companies researching and testing the use of this new technology, anticipating the necessary changes and effects that it will have is an imperative step for both insurance companies and society.
After an overview of the concept of autonomous trucking and a description of the expected steps toward full autonomy, the changes in commercial insurance that will be required at each milestone of the progression will be identified. These changes will include insurance coverages that are predicted to be dropped, changed, or added in response to the new level of autonomy. Additionally, the predicted effects on premiums, claims, and underwriting and additional risks linked to the transition will be discussed.