The rapid rise of autonomous vehicles is exposing a critical gap in China's automotive insurance market, with providers needing to ramp up the design of new coverage strategies and liability frameworks to keep pace with technological advancements, according to a new white paper.
As more vehicles equipped with advanced driver assistance systems, including Level 3 and Level 4 driving capabilities, transition from testing to public roads, new risks are emerging related to software safety and reliability as well as data and network security, according to the paper published by Taiping Reinsurance (China) and the China Asia Pacific Reinsurance Research Center.
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