At Cookhouse Lab we like to use the quote from the American industrialist Henry Ford, “If I had asked people what they wanted they would have said faster horses” to introduce our unique innovation methodology. Today, this quote also shows us that history is repeating itself. The next transformation is fully in progress: Autonomous vehicles are manufactured and tested by almost all well-known, and an increasing number of new automakers.
The shift from horses to cars came along with large safety, environmental and economic challenges and took a period of about 50 years. We are all well aware that the change we are facing today will be significantly faster. A transformation of that scale does not work without innovation and significant change and even requires to disrupt the norm as we know it.
No doubt, autonomous vehicles will not only improve the quality of our life in many ways and even introduce new ownership models (in an article from June 2017 WSJ) mentioned that Tesla is preparing to create a network of Tesla owners that could rent out their self-driving cars to make money). But even more important, by replacing human drivers with intelligent computers, they will also save many lives.
However, during the transition there will be a time of higher risks. A time where autonomous, assisted and self-driven cars will share the roads. In an article of the Wired Magazine, Self-Driving Cars Are Confusing Drivers – And Spooking Insurers from August 2017, the Association of British Insurers calls this the “autonomous ambiguity” and it is not an abstract issue.
The transition from self to autonomous driving brings many significant challenges for auto insurers, such as:
If insurer want to stay in the driver seat of auto insurance they need to collaborate to find the right solutions for the problems that this big transition will bring.
In this four week sprint the project team will work together and focus on how the insurance industry can make successful transition to autonomous vehicles to seek answers to the questions:
The team will design and develop an MVP to for autonomous cars in insurance. RSVP soon to secure your place!