How the Tesla’s new Autopilot can save your business
The next generation of self-driving vehicles promises to be a game changer in the industry.
The company is also making headlines by introducing its new Autosteer software, which will allow customers to take over the wheel of their car with the click of a button.
The technology is coming from Geico Motor Insurance, the world’s largest auto insurance company, which is hoping to capitalize on the shift in car ownership.
The new software will allow insurance companies to provide better coverage for self-driven vehicles by automatically analyzing road conditions and automatically taking over the steering wheel if a collision occurs.
This is the first time a major auto insurance provider has put its name to self-drive technology.
The technology is currently in testing and will be available later this year in all of its models, Geico CEO Tom Ficano said in a conference call with analysts.
Geico has been testing Autostraddle, the first of a series of driver-assist technologies in the future.
Geico’s drivers will have the ability to take control of their vehicle if it is damaged in an accident or if the vehicle has become locked.
The Autosteel feature will allow drivers to remotely change lanes without the driver needing to get out of the car.
Geic also plans to introduce an insurance program that will offer auto insurance policies based on the percentage of the vehicle’s value that the insurance company is covering.
The insurance company can then choose to buy insurance for the whole vehicle, or for each individual component, according to Ficino.
Geo’s Autostroke will be a program where the driver will receive a percentage of a vehicle’s gross value, rather than the entire value of the unit, the company said in the announcement.
The company is not releasing the names of the models it is working on.
The Tesla is expected to debut in 2020.
The first commercial vehicles with the Autopark feature are expected to come out around 2025.