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Autonomous Vehicles Expected To Drastically Shrink Auto Insurance Industry

 Tuesday, October 27, 2015

 Live Insurance News

A recent report issued by the KPMG consulting firm has suggested that by the time the millennials who are only just entering into the auto insurance industry as professionals now become top execs in 25 years, the market will be 60 percent smaller than its current size. While that doesn’t sound like good news for the auto insurance industry, the upside of this KPMG report is that the reason the market is expected to be that small in a quarter of a century is that there will be “radically safer” vehicles that will make it possible for far fewer accidents and road fatalities.