Driverless cars are going to cause insurance companies massive headaches…not from accidents, but from drying up their cashflow.
The advent of driverless cars will mean much fewer accidents.
Driverless cars are coming,Â sometime. Theyâ€™re going to be safer and more reliable than traditional cars and theyâ€™re going to make Google and several other manufacturersÂ very, very rich. The only wreckage theyâ€™re going to leave behind is going to be the corpses of the scores of companies who make a killing on car accidents.
Itâ€™s no secret that computers are already much better drivers than humans. They donâ€™t drive drunk, they donâ€™t text, they donâ€™t forget where theyâ€™re going or daydream. They might not reduce accidents by as much as 90 percent, as Google has suggested, but once driverless cars get any sort of real market share, the roads are definitely going to be safer.
â€śThe immediate losers are the people who depend on accidents for their businesses,â€ť Chunka Mui, a business consultant and author said at a Council on Foreign Relations discussion on the economic future of driverless cars Wednesday.