Reducing Insurance Liability Essay
Over the next years, advances in driverless and autonomous vehicle technologies will have a profound effect on the transport system. Potential to provide significant benefits; freedom to travel, fewer crashes on roads, new high-value jobs in the automotive and technology sectors, and more efficient transport networks that are smoother, safer, and swifter (Tummala, Rymaszewski & Klopfenstein, 2012).
Driverless technology has a potential to change the aspects of mobility from insurance liability to driver safety and how individuals access the transport system. However, there is stiff competition from the traditional transport system since it has a larger market share worldwide. Therefore, the organization needs to develop several strategies that
…show more content…
Thus, individuals prefer the safe means of transport to avoid various accidents that might occur and as a result increasing the firm 's market share (Winston & Mannering, 2014).
Reducing insurance liability
The introduction of driverless cars could reduce the insurance liability paid by the individuals hence increased market share of the organization. The financial loss of the society and the economic costs of the insurance industry of road collisions are substantial. The benefits of the driverless cars are significant, and the insurance industry rewards and recognizes innovative technologies that enable vehicles safer (Vecchiato & Roveda, 2010).
The automated cars encounter rare collisions since they are programmed to drive more safely than the humans and in the process causing minimal road accidents and therefore, less premium. Current insurance premiums are high due to the frequent collisions between vehicles, and the organization will respond by enhancing a reduction in claims to counter the existing market competition (Tummala, Rymaszewski & Klopfenstein,
…show more content…
Several firms will invest in the driverless technology cars as a result of the profits and benefits that might accrue to the companies (Tummala, Rymaszewski & Klopfenstein, 2012).
Rigorous marketing of driverless vehicles
Major players in technology and automobile industry are committed to bringing the self-driving cars to the masses. Several marketing strategies need to be laid down by the company to ensure that the vehicles are available to the potential buyers. Advertisements in social sites, newspapers, television, radios and YouTube, can provide the company with a platform to counter the stiff competition in the marketplace (Vecchiato & Roveda, 2010).
The company should ensure that local or international regions with potential market demand are ventured. Marketing of the automated cars would minimize the competition from the enterprises that use driver driven cars since a lot of customers loyal to the companies have shifted to the organization with driverless car system. The innovative technologies guarantee quality, safety, and leisure to the users by providing unique features that the traditional transport system cannot (Winston & Mannering,
Summary Of We Drove Cars That Can Drive Themselves '
689 Words | 3 PagesSUMMARY: Business reporter, Drew Harwell in the article, We Drove Cars That Can Drive Themselves — and Cost Only $20,000, published on April 5th, 2016 addresses the issue of driverless cars in the 21st century and explains the reasons why we should not rely on these relatively new cars. Harwell supports his claim first by framing his argument, through the use of evidence. He explains in detail what these cars actually are, for example, he cites an experiment he conducted driving these types of cars and provided information regarding price, miles per gallon, technology, and efficiency of each of the cars tested. Second by, appealing to the reader’s emotions.
Summary Of No Parking Here By Clive Thompson
982 Words | 4 PagesTechnological advances - from companies such as Google - in the development of the driverless car have raised the discussion of when these vehicles will make it’s debut into public daily life. In the article, “No Parking Here,” (2016) Clive Thompson outlines how the rise of driverless cars will reshape urban society economically and environmentally. While Thompson’s enthusiasm for the implementation of autonomous vehicles - with everyone adopting ride-sharing commutes, reduced environmental footprint, and aesthetically pleasing cities – the prospect of a connected transportation system that relies solely on computers seems like an image cut directly from a science fiction story. Rather than completely overhauling city structure, driverless
Driverless Car Neil Postman Analysis
782 Words | 4 PagesFurthermore, people will be willingly giving up their privacy for these driverless cars. In the last article, the driverless car can recommend different items based upon preferences. It knows your preferences because the vehicle has combed through your emails, identified key words, and assessed related messages for emotional tone. The car heard the conversation, picked up on brand keywords, and knew to suggest the same beer for a shopping list when it went on sale. People are willingly giving up a significant element such as privacy just to enhance the momentum of technology.
Nicholas Carr's Chapter Summary
178 Words | 1 PagesNicholas Carr introduces his opinion of automation through an example of the overused system of autopilots during an airline flight and questions our growing dependence to technology that is gradually beginning to complete task that we can do for ourselves. Carr moves on to reminisces back to his high school driving lessons, his experiences from driving automatic stick shift to manual stick shift and expresses his joy of being able to be in control of his own vehicle. He then focuses on the self – driving Google car that can effortlessly tours around the California and Nevada area, reporting that an accident did occur but was a manual drivers fault. Over the course of the chapter, he presents us with different scenarios of how technology plays
Driverless Car Ethical Dilemmas
415 Words | 2 PagesOne ethical issue of driverless cars the choice of action when facing an inevitable accident with another party. In this situation, the car has to decide which party to harm. This means the people developing the car software may face the issue of deciding different values or worth on human lives or leaving it to the machine learning software to decide itself. Another issue is whether driverless cars should fully prevent human interaction or still allow humans to control the car if and when they see fit. This may raise the question of whether human error or software error was the cause of any accidents.
Should Self Driving Cars Be Banned
1594 Words | 7 PagesMillions and millions of jobs will be lost due to self driving vehicles pizza places businesses they will all use driverless vehicles they save more money in the long run. People losing jobs is not good because then I lose money and if they lose money how are they going to serve the mouse food in our house. This is proving my claim because self driving cars aren’t good. This is proving my claim because self driving cars aren’t good. James Hoffa states in an article “experienced drivers play huge role in safety of heavy vehicles and that shouldn’t change”.
Persuasive Essay On Self Driving Cars
723 Words | 3 PagesDid you know that tens of thousands of people will lose their jobs when self-driving cars hit the road? Did you know that you can buy a house for the same price as a driverless car? Self-driving cars are about to take over the highways, but these vehicles are on a course destined to crash. Not only are these cars expensive to purchase, but they will leave many without jobs and these cars will add to our already lazy do-it-for-me society. I believe that self-driving cars have no business on the road.
Informative Essay On Driverless Cars
466 Words | 2 PagesWhat if you never had to take a driver’s test? What if you never got a speeding ticket? Well this could all be a reality in a couple of years. Driverless cars are taking over the road and it’s happening fast, but the real question is, are you ready?
Argumentative Essay On Self Driving
487 Words | 2 PagesSupporting Evidence #1: The U.S. Department of Transportation, Forbes Magazine and AUVSI Organization all said ‘that there will be significant cost saving for insurance and healthcare costs associated with accident recovery alone’. In fact self driving cars can save $1,000 per year in insurance according to Forbes magazine. The reason is that self driving cars save
Essay On Telematics Insurance
1643 Words | 7 PagesEmerging Future of Telematics Insurance in India Vehicle telematics provides services like vehicle tracking, real-time navigation, roadside help, and now vehicle insurance. Telematics-based insurance provides an opportunity for vehicle insurers to segment customers and pricing based on driving behavior of a customer. Telematics helps monitor driving performance and recording driver behavior with a telecom device fitted in a car. Taking advantage of this technology, a vehicle fitted with the telematics device can send out, pick up and process information based on driver behavior.
Benefits Of Self Driving Essay
585 Words | 3 PagesThe benefits of owning a self driving car are so great, more should be on the road. One of the greatest, most desirable advantages is that there will be way less car accidents, and less fatal ones too. The article, “Self driving cars are just around the corner. Is it a good thing?”
Essay On Autonomous Cars
2043 Words | 9 PagesEach party should be fully aware of what he might be held responsible for and do whatever it can to reduce the conditions that might lead to unfortunate events. Only by doing so, we can all reinforce the safety on public roads and diminish the number of car accidents. Our primary concern should be safety, and only after that comfort and the pleasure of driving. When other participants may be involved and injured in an event, which may be caused by you or your car, regardless if it is a regular or autonomous car, it is obvious that in both cases prevention and awareness are highly
The Negative Impact Of Car Technology
1271 Words | 6 PagesCars technology is not only used as a way of impacting our lives but also to provide a more safe and convenient environment for transportation and even as a way of making profits for various companies. In this paper, I argue that there has been various advancement in car technology and those technologies have impacted the society both positively and negatively. There has been a massive dependency on the fast advancing technology by the society as a way of making people’s lives and those of others comfortable. People are happy about the continued growth of the car technology and the use of these cars in carrying out our day to day activities such as means of transport to work, hospital, school or transportation of goods from various places to our destinations. With the continued advancement in the car technology, the urge to provide efficient, cheap and safer cars cannot be avoided.
Essay On Driverless Cars
999 Words | 4 PagesTechnology nowadays is only getting smarter and better as the years go by; driverless cars are a big success for people that have been trying to make this happen for years. Even though driverless cars exist now and have been being tested on, many companies have not worked out all the bugs on them so driverless cars are yet to be released until companies can ensure the safety of the owners of the car and the other drivers on the road. Driverless cars could possibly lessen traffic and also lessen deaths and car accidents that happen around the world. Self driving cars were always a talk of the future and the future is now. What are driverless cars?
Essay On Living In A Driverless Future
1019 Words | 5 PagesAcross the world, hundreds of millions or even perhaps billions of people will be safer than ever, more prosperous than ever, and more efficient than ever. Despite, some people will say self-driving cars will foster an environment of less safety, rather than more. They say hackers may be able gain control of cars from the outside. However, this is not true because the sensors on a car can and will be programmed to automatically detect and shut down malicious invaders, through reasons which I actually will explain later. When the next great locomotion revolution comes, everyone needs to be ready to embrace all the benefits and great luxuries which will come with self-driving cars without any hesitation.
More about Reducing Insurance Liability Essay
Summary Of We Drove Cars That Can Drive Themselves '
689 Words | 3 PagesSummary Of No Parking Here By Clive Thompson
982 Words | 4 PagesDriverless Car Neil Postman Analysis
782 Words | 4 PagesNicholas Carr's Chapter Summary
178 Words | 1 PagesDriverless Car Ethical Dilemmas
415 Words | 2 PagesShould Self Driving Cars Be Banned
1594 Words | 7 PagesPersuasive Essay On Self Driving Cars
723 Words | 3 PagesInformative Essay On Driverless Cars
466 Words | 2 PagesArgumentative Essay On Self Driving
487 Words | 2 PagesEssay On Telematics Insurance
1643 Words | 7 PagesBenefits Of Self Driving Essay
585 Words | 3 PagesEssay On Autonomous Cars
2043 Words | 9 PagesThe Negative Impact Of Car Technology
1271 Words | 6 PagesEssay On Driverless Cars
999 Words | 4 PagesEssay On Living In A Driverless Future
1019 Words | 5 Pages