APOLLO IBOTT 1971
“ There ' s been plenty of studies into the impact of automation on human labour . A lot of it isn ' t as impactful as you think . It ' s transferring that job so that , instead of sitting behind the wheel of a vehicle – which means you ' re away from your family quite often – now you ’ re going to be in a maintenance workshop because these vehicles have a different type of utilisation and they get used much more .
“ Autonomous vehicles can drive throughout the day , throughout the night . There ' s no limitations on the times they can be driven , because that ' s stipulated by humans and how long they can keep their attention span ."
Moore continues : “ Instead , humans are working on maintenance or working in a control centre to make sure the vehicles operate smoothly – and what a much nicer form of employment that is .”
How is Apollo ibott 1971 preparing for an AV future ? One of the ways that Apollo ibott 1971 is preparing for an automated future is through its partnership with US-based risk management research company Edge Case . “ They are an autonomous vehicle-focused MGA ,” Moore explains . “ What they ' re trying to do is bridge the gap between the huge amounts of technical expertise and engineering that sits within the autonomous vehicle companies , and then the expertise that exists in the insurance world that is trying to build these insurance solutions .
“ Bridging that gap helps build trust and makes sure that any insurance solutions are fit for purpose . Bringing that engineering capability or insight into insurers is hugely powerful to make sure that we build the right products , and we ' re pricing those products in the right way that ' s sustainable and reflective of the risk . They ' re a partner that ' s really important in bringing this future solution together .”
Looking ahead towards the future of autonomous driving , Moore continues : “ I think in the next five years , we ’ ll see rapid expansion of use cases around autonomy in lots of different circles – whether that ' s agriculture , trucking and long-haul driving , industrial manufacturing , or construction . I think all of those industries will see much more autonomy .
“ From an insurance perspective , we will see those autonomous vehicle providers embedding insurance within their product , because it will take too long for traditional insurance companies that are currently insuring those verticals to build products that adequately cover autonomous-type operations . That ' ll be a huge market shift . Some people will say ‘ I don ’ t write motor insurance , so why should I care about autonomous vehicles ?’ However , I think it disrupts every insurance vertical that we have today . Autonomy will be just another insurance vertical , because it needs a brand new insurance solution .
“ And then , for Apollo , we believe we are a relative first-mover in this space , but we are also very aware that collaboration is key in order to provide capacity for this huge autonomous opportunity . What we want to do is strategically partner with other insurers on providing large chunks of capacity on a wording that is fit for purpose , on a pricing basis that is reflective of the risk at hand . We ' re speaking to many insurers today – and whether we build that under consortiums , reinsurance agreements or however else , it ' s all about creating a partnership model that will deliver an insurance product for a much-needed industry as we want it to grow and flourish .” apollounderwriting . com 15