Big Data Drives The Smart Car - InformationWeek
Data Management // Big Data Analytics
10:12 AM
Connect Directly
How to Talk to Your Management about IT Security
Aug 30, 2017
This webinar will bring you some new methods for describing and measuring your cybersecurity initi ...Read More>>

Big Data Drives The Smart Car

The data-driven car is coming -- whether you like it or not.

Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View
Valerie Raburn
Valerie Raburn,
User Rank: Apprentice
3/25/2014 | 2:09:55 PM
Driverless Carsí impact on Auto Insurance Industry
I definitely agree that the challenge with driverless cars will be accepting them as a society, but as production costs come down, I think more people will embrace them—either purchasing them outright, or booking them on a per-use basis, the way we rent cars today— much like the widely-accepted zipcar sensation.

Aside from acceptance, another big hurdle to take into consideration is the potential impact on the insurance industry. Since the concept of "distracted driver" will cease to exist—fewer accidents and consequently lower insurance rates—DUIs, Driver's Ed, and collision insurance will become a thing of the past.

Again, we won't see this all come together for about another 15 years out, but testing is currently active and technology is gradually emerging and bits and pieces are starting to surface in the marketplace. Since about 75% of auto insurance is linked to collision and liability exposures, that revenue will steadily start to decline leaving the auto insurance industry staring at a fresh, new landscape. Insurers' primary revenue streams will shift from personal lines to commercial lines—and I predict we will see new, unconventional vendors (such as an retool their offerings to compete for the remaining 25% of the personal auto insurance business-- comprehensive coverage that takes care of things like natural disasters and theft.


-Valerie Raburn, vice president and chief innovation officer for the insurance division of Xerox.
User Rank: Ninja
3/19/2014 | 10:51:05 AM
Re: Drink Driving
That's an interesting point. That whole industry is in danger of disappearing once self-drive cars become a thing. Hell even one that can park itself would eliminate a lot of taxis, since driving into the city would be a lot easier if you didn't have to worry about finding somewhere to park, just get dropped off and leave it to find a space itself. 
Kristin Burnham
Kristin Burnham,
User Rank: Author
3/18/2014 | 8:43:36 PM
Re: Drink Driving
Agreed, though I'm not sure taxi drivers would would approve.
User Rank: Ninja
3/18/2014 | 10:48:48 AM
Drink Driving
I think one of the biggest life-savers with this tech would be the near elimination of drink driving. If people could drive somewhere, drink and then be driven home by their car, even if it was slow, that would save a lot of lives. The drivers and their potential victims. 
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
IT Strategies to Conquer the Cloud
Chances are your organization is adopting cloud computing in one way or another -- or in multiple ways. Understanding the skills you need and how cloud affects IT operations and networking will help you adapt.
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll