XL Catlin

2019 Oxford and London driverless vehicle challenge

XL Catlin today announced that it is participating in a consortium of organizations which plan to deploy a fleet of connected, fully autonomous vehicles (operating at Level 4 autonomy), at a level of complexity and integration never before attempted anywhere in the world. The consortium, DRIVEN, is led by the award-winning Oxford-based driverless vehicle software company Oxbotica, and comprises leading British companies aiming to further cement the UK’s position as a world leader in mobile autonomy. See press release below .

As the only insurer taking part in DRIVEN, XL Catlin – who have been collaborating with Oxbotica for more than a year – will collect and analyse data resulting from the project, to create a risk profiling tool and insurance pricing mechanism that will help make broad commercial use of autonomous vehicles and the related technologies an insurable reality.

XL Catlin sees this project as a significant step for the insurance industry, on a global level. The current model of car insurance is going to change. The new technologies and the many different component parts necessary to enable autonomous mobility create new challenges and evolving, new risks.

Insurers best placed to provide the relevant cover in the future are those which today insure software companies, vehicle and parts manufacturers as well as cyber risks. It is those who have the knowledge and expertise in respect of Product Liabilities, E & O and associated risks who will be key to enabling the adoption of these new technologies across many applications not just cars.

N.B. – The text does not bind the staff of LMFInternational. Only the companies, organizations and associations which sign the press release and which are clearly indicated in the title of the text, are responsible for its information and contents.