This is one of the main conclussions at the last Auto Insurance meeting recently organized by ICEA (Cooperative Research between Insurance Companies), center specialized in studies and statistics for the insurance sector in Spain. Both in the speeches and presentations carried out by the different insurance companies as well as in the talks by the organizer’s head of research, it was stated that the automatization of driving, more and more widespread in our neighboring countries, will affect, undoubtedly, the accident rate and the average cost of repairs. However, it is not clear when and how this will significantly happen.
More than 50% of the professionals attending this event, around one hundred people employed by different insurance companies, responded, in the survey carried out during this meeting, that the car insurance fees will increase due to the popularization of advanced driver-assistance systems (ADAS) in vehicles… but they were not able to specify how or when. Also, according to more than 85% of the insurance professionals surveyed, nowadays garages are not prepared to repair the vehicles that currently have ADAS installed.
The technicians participating in the meeting noted that each ADAS system will have a different impact on the frequency of claims and the average cost of repairs. Also, taking always into account that the generalization of the ADAS systems in the total number of vehicles is subjected to different circumstances in each country, depending on the replacement rate of the vehicles.
In order to face this impact on the claims frequency and the average costs, the companies participating in the Auto Insurance meeting by ICEA underlined that it is essential to have accurate information regarding the ADAS systems installed on each vehicle. This is the only way to know the real impact in the frequency and costs of each system and for every coverage, which will result in a progressive readjustment of the fees paid by the owner of the vehicle.