Findings show insurance industry can bridge gap between consumer buy-in and adoption of AVs.
While auto manufacturers, technology companies, and government entities race to develop and deploy automated vehicles, a new pulse survey from J.D. Power and the National Association of Mutual Insurance Companies reveals it may be time to pump the brakes. J.D. Power and NAMIC partnered to assess consumer attitudes about and demand for AVs and found consumers skeptical when it comes to giving up the wheel.
Results of the J.D. Power pulse survey on automated vehicles and insurance are being presented on Oct. 9 at NAMIC’s The Future of Auto Summit, held at the University of Michigan Transportation Research Institute and Mcity Test Facility on the UM campus. Survey co-authors Tom Karol, NAMIC’s general counsel, federal, and Robert Lajdziak, J.D. Power Insurance Practice, will present the findings.
The J.D. Power pulse survey of 500 auto insurance customers, conducted in late August, uncovers some troubling realities facing this emerging technology:
Whether AVs will be permitted to operate on the roads will depend greatly on public demand that driverless cars have the requisite level of safety. The insurance industry has led auto safety advocacy for decades – seat belts, airbags, and cameras – and there should be no difference when it comes to automated cars.
“Consumers look to insurers to establish reliable safety standards,” said Karol. “The results of this survey show why it's imperative for the insurance industry to have a seat at the table in convincing consumers that automated vehicles can be trusted.
“Insurance companies have a critical role to play in bridging the gap between consumer caution and consumer adoption of this emerging technology,” Karol continued. “Insurers have proven their commitment to safety and want to provide their experience and expertise to all other stakeholders. Insurance is the leader in testing and validating auto safety, and NAMIC looks forward to ensuring that expertise is provided.”