The partnership makes the insurer the first one to join forces with this automotive technology group.
The Institute for Automated Mobility (I.A.M.) and State Farm Insurance have announced that they are entering into an autonomous vehicle partnership. The consortium was launched a year ago and was formed to move ahead the development of automated vehicles. The partnership represents the first entry of an insurer into this effort.
Governor Doug Ducey made the first announcement of this new tech and insurance partnership.
Arizona Governor Ducey made the announcement that State Farm would be working with I.A.M., while he spoke at a tech conference in Phoenix. It was Ducey who originally formed the autonomous vehicle initiative last year, so it was fitting that he would have the opportunity to announce that an insurance company as large as State Farm would be taking part. In fact, it was at the same tech conference in 2018 that the Ducey first announced the creation of the consortium itself.
“We look forward to many groundbreaking achievements together in the months and years ahead,” said Governor Ducey as quoted in a KTAR News article.
Ducey has been pushing hard for initiatives such as autonomous vehicle tech in Arizona.
According to the governor of Arizona, it is initiatives such as this new automotive technology that will help to create a solid technology reputation within the state. He hopes that it will help to promote the region as a strong tech player so that it may become a technology hub within the country. This offers substantial potential for the state economy.
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Now that State Farm has joined forces with the I.A.M., it has provided the consortium with the contributions of another large sector. This will provide the consortium with invaluable data and resources to propel its efforts forward.
“Our involvement in IAM will help State Farm better understand this emerging technology and make sure our customers’ needs continue to be met now and in the future,” said State Farm senior vice president of labs, Mark Oakley in a recent press release from the insurer.
During I.A.M.’s first year, it already to manage its first on-road autonomous vehicle project in the Phoenix area. It also focused on the development of other related research initiatives. As the consortium continues its growth, it plans to open a number of different facilities capable of conducting various forms of testing and research.