The Contribution of Usage-Based Data Analytics to Benchmark Semi-autonomous Vehicle Insurance

Semi-autonomous vehicles will have a significant impact for the automobile insurance industry. We analyze telematics information and present methods for Usage-Based-Insurance to identify the effect of driving patters on the risk of accident. These results can be used as a starting point and a benchmark for addressing risk quantification and safety for semi-autonomous vehicles. Automatic speed control devices, which allow the driver to keep the vehicle at a predetermined constant speed and can ensure that the speed limit is not violated, could be considered a first example of semi-autonomy. We show scenarios for a reduction of speed limit violations and the consequent decrease in the expected number of accident claims. If semi-autonomous vehicles would completely eliminate the excess of speed, the expected number of accident claims could be reduced to almost one third its initial value in the average conditions of our data. We also note that an advantage of automatic speed control is that the driver does not need to look at the speedometer which may contribute to safer driving.