The data coming out from an independent study of Waymo autonomous vehicles is, frankly, amazing. Swiss Re, one of the largest global insurance firms based out of Zürich, reports that 25.3 million fully autonomous miles drive by Waymo vehicles resulted in a 92% reduction in car crash injuries. In plain English, Waymo self-driving tech is […]

The data coming out from an independent study of Waymo autonomous vehicles is, frankly, amazing. Swiss Re, one of the largest global insurance firms based out of Zürich, reports that 25.3 million fully autonomous miles drive by Waymo vehicles resulted in a 92% reduction in car crash injuries.

In plain English, Waymo self-driving tech is 12.5x safer than human drivers.

Let’s dig into what that means!

  • Evil_Shrubbery@lemm.eeEnglish
    1·
    7 hours ago

    Sure, insurers balance portfolio & premiums, however most insurance products (and most insurance coverages) are designed (developed) to be profitable on their own.

    So, insurance companies benefit vastly from higher premiums, not lower ones (short of something being uninsurable ofc).
    (Eg healthcare in USA - insurers want higher prices too & are incentivized to make that happen.)

    Also depends what specifically WayOfTheMoo even insures. Maybe it’s just car liability insurance and not every scratch & ding comprehensive coverage. Or maybe SwissRe reinsures only damages over a certain amount or only (over) when total insurers claims sum up to a certain amount (reinsurance contracts can vary vastly … tho on the other hand they also like to collect all raw data from insurers to nerd over extra numbers).