Report: Auto Insurance Industry Could Drop By 71 Percent

With the rapid advancements in autonomous vehicle technology and regulations, the auto insurance sector could decrease by 71 percent, or $137 billion, by 2050, according to a recent report by KPMG. The report, which was originally released in 2015, has been revised to reflect the technology’s faster-than-expected acceleration. It notes three factors that could potentially disrupt the insurance industry, with the personal auto sector forecasted to experience the blunt of the blow.