Study assesses likely impact of future technology on our roads and outlines how Thatcham Research will help mitigate the risks
Britain’s car parc will change more profoundly in the next five years than at any time in the past 50. This is according to our new report on the impact of future technology. And the unprecedented pace of change will challenge the automotive industry, legislators and insurers.
Green vehicles, internet connectivity and new ownership models will radically change the mix of vehicles on UK roads. Yet according to our Letting Go of the Wheel report, the game-changer will be the move towards Automated Driving. An increasingly diverse car parc will make it more complex for insurers to calculate premiums – and for technicians to put things right in the event of an accident.
Manufacturer spend on automation, which today is second only to electric vehicles, is rapidly driving us towards a self-driving future. We predict the first Automated vehicles will hit roads by 2021. While exciting, this makes the task of establishing blame after an accident more complicated. Meanwhile the move towards mobility as a service (Maas) will shift focus towards other insurance models.
We are uniquely positioned to help the automotive industry meet these challenges. We have been improving road safety and driving down the cost of claims for five decades. Letting Go of the Wheel outlines how we are evolving to address the needs of our members, and presents five ways we can help navigate risks and opportunities in the car parc of the future.
“We are justifiably proud of our 50-year history. But today’s imperative is to look forwards. From software safety to big-data analysis, Thatcham Research is relentless in its desire to provide insurers with relevant insight.” Jonathan Hewett, Chief Executive, Thatcham Research