A self-driving truck has delivered a lorry load of beer over a distance of 120 miles to Colorado Springs in the United States.
This is just the latest example showing that the risk future of the truck industry is changing rapidly. For example, as we reported earlier in the year, a Smart Park system in the USA could save the industry an estimated $4 billion and potentially reduce risk.
In addition, a recent report on the future of truck transportation has predicted that the reality of automated lorries will become the norm. This will include ‘platooning’ where lorries will travel at a distance of one second apart. The benefits will include; lower fuel consumption and improvements in driver productivity, while society benefits from fewer accidents, safer traffic and less congested roads, and lower carbon emissions.
However, there is little mention of the insurance impact on these changes and what this means in both underwriting and risk management terms. At White Oak we will be watching developments closely and advising our clients accordingly.