Self-driving cars could have huge implications for the insurance market as growing use of the vehicles stands to drastically reduce accidents and resultant claims, according to Outsurance CEO Marthinus Visser.

In an interview after the group’s interim financial results, Visser said though autonomous vehicles have not yet materialised as an immediate threat, their potential widespread adoption could disrupt the traditional car insurance market significantly since the premium pool is essentially built around the cost of claims...

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