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When we think about the future of mobility we see a different world we see world of integrated mobility where public transportation networks shared vehicle fleets and private autonomous vehicles work together to get people from home to work and play virtually accident free we see a world of personalized mobility where people choose multimodal journeys based on preferences for time price and privacy there are two major forces emerging today that will push us into the future and seismically shift the auto insurance industry an increase in car sharing and proliferation of autonomous vehicles these forces will impact everything from the number of privately owned vehicles to the frequency and severity of accidents to the way vehicles redesigned and built we can already see evidence of these changes today a rapid growth in the sharing economy wide adoption of driving assist technology and the testing of autonomous vehicle son city streets over the next 25 years the size and shape of the market for auto insurance will shift substantially telematics technologies internet connected vehicles and drivers as technologies will change the underwriting and pricing of traditional auto insurance policies shared vehicle swill be a viable alternative to vehicle ownership and will create new markets for driver centric car sharing policiesself-driving vehicles will reduce the frequency of accidents and necessitate new types of insurance coverage the expansion of large shared autonomous vehicle fleets will introduce self insurance as a viable alternative to purchase coverage with these changes new models of insurance may emerge pecan imagine individuals seekingon-demand micro coverage furtherend-to-end car sharing journey autonomous vehicle manufacturers and fleet owners seeking stop-loss and other forms of catastrophic coverage policies and insurance coverage increasingly embedded in other products and services such as credit cards vehicles leases handcar sharing memberships insurers that embrace disruption early from new business models and partnerships to market offerings to customer experiences stand to shape the future of mobility and with it the future of auto insuranceyouyou
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