Lloyd 's of London CEO John ##sla has said carmakers and insurers are discussing new types of policy in light of the development of driverless vehicles . He said the introduction of autonomous vehicles ( AVs ) wo n't reduce the need for car insurance and forecast that the urban motor insurance industry will have developed a different approach within five years as vehicle use grows . Tesla recently revealed it was partnering with uk ’s State National to offer its own insurance programme , while in 2015 Deutsche Bank estimated growth in AV use could cause market volumes to slip by up to 40 % by 2040 .
Lloyd's of London CEO John Neal has said carmakers and insurers are discussing new types of policy in light of the development of driverless vehicles. He said the rise of autonomous vehicles (AVs) won't reduce the need for car insurance and forecast that the urban motor insurance market will have developed a different approach within five years as AV use grows. Tesla recently revealed it was partnering with Markel’s State National to offer its own insurance programme, while in 2018 Deutsche Bank estimated growth in AV use could cause market volumes to slip by up to 40% by 2040.