Companies That Will Lose out in a World of Self-Driving Cars

Driverless cars portend a wonderful future for so many people. Those who cannot drive due to some disability and are stuck having to pay for expensive cab rides or wait for a bus will finally have a more convenient option in the future. One big benefit of these cars is that they should be much safer than cars that we easily distracted human beings drive. This is an extremely good thing for everyone. Well, a good thing for almost everyone. If you are an insurance company, you depend on people buying your product in the event of an accident. However, if self-driving cars don’t get into accidents, the bottom lines of large insurance companies that depend on the auto insurance market for their financial viability will take a beating.

Self-driving cars becoming a commonplace fixture on our roads is still a long way off, but insurance companies already being worried at what they portend indicates they may arrive sooner than we expect. Zeca Oliveira knows that whenever new technology comes along that revolutionizes or ends a particular industry, it has the potential to negatively affect related industries. When cars came along, I have to think farmers who specialized in growing hay for horses had to expand their choice of crops really fast or face starvation. We can only hope that the advent of this automotive technology is not slowed by businesses that would lose out lobbying against their introduction and penetration into the market as self-driving cars would be a good thing for so many people.

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