Tag Archives: Google

Book review: “Machine, Platform, Crowd – Harnessing our Digital Future”

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“Machine, Platform Crowd” tries to summarize what in the author’s view are the currently most important changes that will impact both, individuals and companies going forward:They call it the “Triple Revolution” consisting of:

  1. The emergence of machines (Robots, AI)
  2. The evolution from Products to Platforms
  3. The increasing importance of the Crowd vs. the “core”

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Driverless cars + Uber –> Death of Car Insurance ?

As this became a long post, a quick management summary upfront:

The case for 100% self driving cars without accidents is not so clear for me
1. Based on current facts, the Google car doesn’t seem a lot better than human drivers
2. From other areas (Airplanes, chess) we can learn that a human-machine combination is often better than a “machine” alone
3. Driving cars is also an emotional experience, many people might not fully sacrifice this
4. Some innovations take longer than one thinks, especially if they take away freedom from consumers
5. A gradual decrease of claims could actually be positive for car insurers over an extended period of time

Additionally, I don’t see a combination of driverless cars with a service like Uber replacing private cars anytime soon. There are a lot of practical issues with renting out private cars to complete strangers. However, taxi driver might not be a job with a big future either.

So from my perspective, as shareholder of a car insurer like Admiral there is no reason to panic, however for traditional insurers this might be one more nail in their coffin.

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