A fantastic incentive for all Tesla drivers in UK & an opportunity for insurance companies to learn and prepare for the future of autonomous driving. I think this is a bold move from Direct Line Group as it is still unclear whether Tesla's autopilot system can produce a significant enough safety record to warrant a reduction in consumer premiums. At the end of the day the driver is still in charge of the vehicle, however with the addition of several semi-autonomous driving features including Adaptive Cruise Control, Autosteer, Auto Lane Change & Autopark, the industry has an opportunity to collect the relevant safety data and determine the insurance rates of the future. Pricing will always be varied with various factors to consider i.e. driver history, driver age, past claims etc, however as Direct Line collates the new data, it will provide them with new key data points to provide a more agile & fair insurance pricing system for customers. The data collated by Tesla & Direct Line will certainly be very interesting & it will hopefully provide us with proof that autonomous driving is a much safer option for the motor industry as a whole. We need to see more insurance companies follow suit by collecting the relevant data that will help them stay competitive in years to come. The autonomous driving disruption is a big threat to the motor insurance industry and we are seeing more innovative autonomous technology on a daily basis. We here at Hyperion have seen the future of transportation & we intend to help build it. We specialise in e-mobility & we partner with autonomous technology companies to attract the top talent they need to help them grow as we truly set our sights on building a safe & clean automotive future.
“Crash rates across all Tesla models have fallen by 40% since the introduction of the Autopilot system. … However, when owners seek to insure their Tesla vehicles, this is not reflected in the pricing of premiums.” He added: “The insurance industry will gradually respond to these developments.”