CS-26 - Projecting Liability Loss for Autonomous Driving

Autonomous driving technology has made significant progress in the U.S. in recent years. Several companies have rolled out robotaxi and driverless delivery in many cities. Autonomous driving has created a unique and interesting challenge for actuaries to assess and quantify on-road liability exposure. Limited experience, lack of consistent regulations among states, and evolving technology are among the issues that actuaries have to deal with in assessing the on-road liability exposure.

In this session, Cruise Actuarial and Risk Analytics staff will provide an overview of their actuarial analysis of on-road liability exposures for Cruise's autonomous vehicle fleet and operations on public roads and a framework to quantify frequency and severity in different markets. In the process, we will discuss the unique aspects of actuarial analyses for autonomous driving and also share what roles actuaries can play in expediting deployment of autonomous vehicles.