Insurers Face Self-Driving Future, Decline Of Personal Auto Sector

As autonomous driving technology advances, perhaps the most notable benefit is the promise of a striking reduction in accidents. But fewer accidents will, according to a recent report, turn the entire auto insurance industry on its head. "We think that over the next 20 to 25 years, the number of accidents will fall by 80 percent,” said Jerry Albright, principal of actuarial and insurance risk practice at KPMG, the consulting firm that released the report. “From a consumer perspective, this is a very good thing. You’ll see improved safety, fewer deaths.”