10 big things That passed off within the auto insurance & car Industries in 2017

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1. The first “self-driving vehicle” death took place.

In may also, a driving force touring in a Tesla version S on autopilot mode—a SAE level 2 automated car—died when the auto crashed right into a tractor-trailer in Florida.Neither the autopilot or the driving force prominent a white tractor-trailer closer to the bright sky and the auto collided with the car, killing the using pressure Joshua Brown. This occasion turned into broadly mentioned as the first self-driving car demise. Of path, the Tesla version S is not a fully independent self-using vehicle—those will not be available for years—and the drivers are still required to be prepared to take over the Tesla while important. There had been also reported that an earlier January crash occurred in China. A Tesla model S on autopilot mode collided with a road sweeper on the dual carriageway, right away killing the motive force. The may also event became the first U.S. independent-associated vehicle loss of life and both collisions raised worries international approximately self-driving vehicle protection and the want for increased law and public training.

2.  The insurance growth continued to develop.
Insurtech has been a warm topic in current years and that trend persisted in 2016. Investments in insurance crowned $1 billion within the first six months of 2016 by myself. more offers have been made in the 1/3 quarter and the final numbers will probably show that it’s been every other successful 12 months for the insurance marketplace. there are numerous exceptional kinds of insurance to be had now—new modes of telematics, vehicle insurance marketplaces and startups with specific coverage pricing models.
some insurance organizations like Metromile are turning the traditional insurance version on its head with pay-consistent with-mile or pay-as-you-go insurance. Others like Root insurance are attractive to a particular purchaser segment—individuals who are precise drivers—even as a few businesses are growing telematics that work in conjunction with traditional automobile insurance. Insurtech persisted to develop and innovate the industry this 12 months and we’ll in all likelihood see extra of its expansion in 2017.

3. Traffic fatalities Jumped Up 10%.

The NHTSA announced initial findings that visitors deaths were up 10.4% within the first half of 2016 over the same term in 2015. There have been 17,775 people who died inside the first six months of this 12 months—1, a hundred sixty-five greater humans than the first half of 2015 and 17.7% more site visitors fatalities than in 2014. The very last numbers for all of 2016 won’t be announced until next 12 months. because of these frightening chances, the NHTSA and NSC announced a new road to zero coalition that goals to decrease and remove all traffic fatalities and critical injuries within the subsequent thirty years. at the same time as the coalition’s goal might also appear aggressive, more deaths are occurring on the roads and no person desires to see the number increase. With an extra financial system, greater drivers are out on the road and extra drivers are also riding distracted. Drivers are using their phones to textual content, use the net or play apps which include Pokémon move or Snapchat behind the wheel and the outcomes can be lethal.

4. car sharing and ridesharing persevered to take off.
vehicle sharing offerings endured growing in 2016. Ridesharing is now a commonplace regular term and extra riders are selecting to take an experience with networks of vehicles. that is likely the first step to a future of shared mobility. Uber has almost 16 million month-to-month active users and Lyft has also grown over the beyond yr. It’s not handiest ridesharing corporations seeing extended use, other car-sharing companies with commercial enterprise fashions much like Zipcar have expanded this 12 months. Shared mobility is anticipated to be some distance-off destiny of transportation and its foundations persisted to grow in 2016.

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