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Risk in Context Podcast: Balancing the risks and opportunities of the autonomous vehicle revolution

The automotive industry is going through a major transformation, with manufacturers focusing on the electrification of vehicles and autonomy.

car is in autonomous driving mode with a panoramic glass roof while driving at night in the mountains

The automotive industry is going through a major transformation, with manufacturers focusing on the electrification of vehicles and autonomy. And while these major automotive advances will bring a range of opportunities, they will also create new risks for manufacturers, software developers, and insurers. Overcoming these challenges will require collaboration between vehicle manufacturers, government authorities, urban planners, and the insurance market.

In this episode of Risk in Context, Trevor Smith, Casualty Leader for Marsh's Sharing Economy and Mobility Group, talks to David Carlson, Marsh's US Manufacturing and Automotive Practice Leader, Didem Canturk, Affinity Placement Leader for Europe, and Andrew Duhancioglu, Principal within Oliver Wyman Actuarial Consulting. They discuss the evolution taking place within the advanced automotive sector, the opportunities that this brings, and share advice on how to identify, quantify, and mitigate the risks.

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Key takeaways

Several applications of autonomy

Although there is no expectation that autonomous vehicles replace personal cars in the near future, there are tremendous opportunities in other areas, including long-haul trucking, last-mile and middle-mile delivery, and robo taxis. As the autonomous industry grows, countries are expected to establish regulatory frameworks to ensure road safety. 

Autonomy will require advanced urban planning

The safe coexistence of autonomous and traditional vehicles will require a joint effort from urban planners and traffic regulators to accommodate the collective operation of diverse vehicles on city streets. 

Data critical to insurance solutions

An autonomous vehicle model that is adopted industry-wide can simplify the insurance renewal and quote process by providing a collective pool of data. This can help to reduce insurance costs and streamline the process for policyholders.

About our speakers

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Trevor Smith

Senior Vice President, Casualty

  • United States

Trevor Smith leads Casualty for Marsh’s Sharing Economy and Mobility Group. His team is responsible for working with some of the firm’s most innovative clients and insurers to invent new forms of insurance, or remix existing ones, to protect the businesses of the future.

David Carlson

David Carlson

Manufacturing and Automotive Practice Leader, US

  • United States

David Carlson leads Marsh’s US Manufacturing and Automotive Industry Practice. He recently took over responsibility for leading Marsh’s sales in the US Central Zone. Based in Cleveland, he is responsible for growing the core business and ensuring the delivery of Marsh’s client focused differentiated risk solutions and a consistent delivery of Marsh’s industry-leading value drivers.

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Didem Canturk

Affinity Placement Leader Europe

  • Germany

Didem Canturk is Affinity Placement Leader for Marsh Europe, managing strategic carrier relationships, regional strategy, and partnership projects. She has close to 20 years industry experience, including a decade at Marsh. Before her current appointment she was the business leader for Marsh’s Sharing Economy and Mobility Practice in Europe. 

Andrew Duhancioglu

Andrew Duhancioglu

Principal, Oliver Wyman Actuarial Consulting

  • United States

Andrew Duhancioglu is a Principal with Oliver Wyman Actuarial Consulting. Based in Los Angeles, he has notable consulting focus in the autonomous vehicle, sharing economy, and mobility space as well as cybersecurity. He also has significant competencies in serving self-insured organizations via reserve analyses for commercial lines of risk, including workers’ compensation, auto liability, and general liability as well as expertise in data analytics and predictive modeling.

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