New vehicle communications system could have an impact on the auto insurance industry

auto insurance

auto insurance

Agency shows off new technology that could prevent accidents

Roads in the U.S. may be getting more safe thanks to a new technology developed by the National Highway Traffic Safety Administration (NHTSA). The agency demonstrated this new technology last week in Ann Arbor, Michigan, where a number of tests were held to showcase automotive safety and the safety features of certain vehicles. During the event, the agency showed how crashes could be avoided using a technology that allows vehicles to communicate to one another. The prospective benefits the technology could hold for the auto insurance industry have not gone without notice.

Insurers keen to make driving safer

The auto insurance industry has long maintained a close watch on the state of automotive safety. Insurance companies are often a leading force behind new laws that are meant to make driving safer for consumers. These companies have also produced many reports that have been used as evidence to support such laws or introduce new regulations. Safety has been a primary concerns for the auto insurance industry lately, as accidents continue to be a problems and the shifting health insurance landscape continues to cause concerns.

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V2V system could be effective in keeping drivers safe

Called vehicle-to-vehicle communications, or V2V, the technology developed by the NHTSA allows vehicles to communicate wirelessly. Initial demonstrations of the system showed that it can provide warnings to drivers concerning the threats posed by other vehicles, unseen or otherwise. These warnings often come in the form of flashing red lights or a distinguishable audio noise. Advanced V2V systems are capable of taking control of a vehicle in order to prevent accidents.

Auto insurance industry shows modest support, awaits further tests of system

The NHSTA has announced that it plans to conduct large-scale, real-world tests of its V2V systems later this year. The agency believes that the system could help keep drivers safe and help them save on their auto insurance coverage. The auto insurance industry has shown some support for the V2V system, but has largely withheld judgment until the system is further tested in a real-world environment.

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