The Impact of Driverless Cars

THE IMPACT OF DRIVERLESS CARS Driverless cars, also known as autonomous vehicles, will soon take us to our desired destination with little human interaction. This revolutionary technology may appear to be science fiction, but soon it will become reality. How Do They Work? There are 3 requirements for a driverless car: A processing unit that turns A system to recognize weather conditions and time information from the 2 systems into actions such as steering, accelerating, or braking. of day. An advanced GPS system that interprets the "mission" or travel plans of the car. The Future is Very Near 42 % of executives say autonomous vehicles will impact their business by 2021. By 2025, the driverless car market is expected to reach $42 billion. A Crash Test of the 30,000 traffic 95% fatalities in the U.S. each year are caused by human error. Insurance rates will drop 30% and fuel consumption will decrease by 10% thanks to driverless cars. Who's to Blame in a Driverless Car Accident? With this type of advanced technology, knowing who to blame for accidents will be clearer than ever. However, there will still be some instances where the cause of the accident will be less clear. Can the Insurance Industry Survive? Insurance companles will have the opportunity to sell more coverage to makers of driverless cars. If the technology fails, insurance will cover liability issues. CoverHound Insurance Sources CoverHound "The Future of Driverless Cars" PowerPoint http://time.com/3719270/you-asked-how-do-driverless-cars-work/ http://www.bloomberg.com/news/articles/2015-07-30/can-the-insurance-industry-survive-driverless-cars-