ArrowArtboardCreated with Sketch.Title ChevronCrossEye IconIcon FacebookIcon LinkedinShapeCreated with Sketch.Icon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Business

New policy to help automakers test the cars of tomorrow

TOKYO -- Japan's Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance have jointly developed a new insurance product to cover risks involved in demonstration tests of self-driving cars.

     It is the first such insurance product in Japan. The two insurers, both subsidiaries of MS&AD Insurance Group Holdings, said they have already already won a contract from a venture company for the new insurance service. 

     The development of the new policy comes as Toyota Motor and other automakers are racing to commercialize self-driving cars around 2020. 

     A self-driving car contains many electronic parts and is equipped with complicated systems. 

     One of the biggest questions concerning these cars is: Who will be responsible for accidents involving the vehicles -- a driver, an automaker or an electronic parts manufacturer? 

     It is also difficult to predict how often accidents involving self-driving cars will happen or how much damage might be caused.  

     The new policy will cover possible risks involved in demonstration tests of self-driving cars in a comprehensive manner. 

     Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance believe the new product will encourage more companies to demonstrate their technology.

     Insurance premiums will differ, depending on the number of vehicles used in a demonstration test and the test period. They are expected to be between tens of thousands of yen (hundreds of dollars)and hundreds of thousands of yen per test per year

     The two insurers expect to sell policies to automakers, research institutions, parts suppliers, telcos telecommunication firms and software companies. 

(Nikkei)

Get unique insights on Asia, the most dynamic market in the world.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media