Share on Facebook Share on Twitter Share on Google+ Share on Linkedin Over the past decade, a steady flow of disruptive forces has impacted the personal auto insurance market, including telematics, the sharing economy and autonomous vehicles. AAIS Auto Product Manager Casey Brewer discusses how they are reshaping the Personal Auto insurance market, and myriad challenges and opportunities it creates for carriers. Telematics programs provide insurers with access to vast amounts of data. The majority of carriers that have implemented these types of programs have experienced improvements in risk pricing and claims processing, increased customer satisfaction and retention, as well as reduced costs. In addition to the benefits that carriers have reported, customers are able to take advantage of premium discounts, improved service and claims experiences, and in many instances direct feedback on driving habits that can help improve behavior behind the wheel. The sharing economy has resulted in significant changes in driver behavior. With the introduction of transportation networks and personal vehicle sharing programs, activities once limited to businesses and commercial auto insurance are now suddenly and irreversibly in the realm of private vehicles and personal auto insurance. Autonomous vehicles bring the prospect of driverless cars. Automobile manufacturers are introducing an increasing number of vehicles to the market that boast advanced driver assistance features, from automatic braking and adaptive cruise control, to lane maintenance assistance and self-parking capability. This technology could potentially eliminate all human error, a factor in more than 90 percent of all automobile accidents. The reduction in auto accidents could also save more than 40,000 lives each year. For more information on the challenges and opportunities facing auto insurers, contact AAIS.