The Chaotic Middle

July 11, 2017 at 10:57 PM

This 64-page white paper presented by KPMG's insurance task force in June 2017 analyzes the huge impact of autonomous vehicles and on-demand transportation services will have on the U.S. insurance industry.

The report says both trends will become the norm by 2035. Between now and then, insurers should brace for changes that could slash the personal liability premiums they currently collect from $164 billion per year today to only $12 billion by 2055.

KPMG says the speed of change, coupled with uncertainty about the timing and import of multiple forces at work, will create a "chaotic middle" of change for insurers over the next 10-15 years.