THE UNITED STATES – According to an online article from forbes.com, Advanced Driver-Assistance Systems (ADAS) and other semi-autonomous driving technology features are becoming a popular option for consumers shopping for a new automobile.
The worldwide demand for ADAS is predicted to grow from $27 billion to $83 billion over the next decade, which is an extraordinary growth rate. A research study conducted by LexisNexis Risk Solutions discovered that ADAS-equipped motor vehicles registered a “27% reduction in bodily injury claim” incidences. The study also revealed a significant 19% reduction in the number of property damage claims.
What is an Advanced Driver-Assistance System (ADAS)?
ADAS help to avoid accidents while commuting and when parking. There are several sub-categories of ADAS, and each is designed to reduce accident occurrence and lessen the damage if involved in an accident.
The safety technologies and features include:
- Accident/Collision warning
- Active/Adaptive cruise control
- Automatic braking and emergency braking
- Blindspot alerts and detection
- Braking Sensors
- Forward collision warning
- Lane departure alerts
- Pedestrian detection system
- Rear collision warning
- Street sign recognition
According to Fran O’Brien with Chubb Personal Risk Services, Advanced Driver-Assistance Systems employ sensors, video cameras, and software to recognize a possible accident and warn the driver. She believes that this safety technology has been proven to prevent accidents.
Are Advanced Driver-Assistance Systems Making Vehicles Safer?
The Forbes article believes that Advanced Driver-Assistance Systems do make motor vehicles safer. According to a study cited in the articles, the Insurance Institute for Highway Safety found the rate of blind spot accidents was 14% lower in identical model vehicles that also had Blindspot Monitoring technology.
David Braunstein, President of Together For Safer Roads, stated that the Insurance Institute for Highway Safety study implies that if all motor vehicles sold in the U.S. were equipped with blind spot monitoring systems, more than 16,000 accidents with injuries would be prevented.
Carnegie Mellon University researcher Corey Harper stated that his examination of ADAS accident data proposes that the combination of motor vehicle collision avoidance systems can reduce accidents by approximately 3.5%. He also stated that if commercial, light-duty vehicles had collision avoidance technologies, the cost savings could reach $264 billion per year.
The future of auto safety technology is Artificial Intelligence (AI). Robin Malhotra, the Barrhaven Honda sales manager, stated that AI safety technologies are part of auto manufacturers’ long-term goals.
Although ADAS auto options are expensive and expensive to repairs. A study from AAA discovered that motor vehicles equipped with lane departure warning, blind spot monitoring, automatic emergency braking, and other safety features could cost twice as much as non-ADAS vehicles to repair. The AAA study states that minor accidents can add $3,000 or more in additional repair costs.
Do ADAS The discounts may be coming, though not as soon as some experts predicted. In 2018, Swissre and HERE Technologies conducted a study on the effects of ADAS systems on car accidents. The research showed that this technology has the potential to reduce car accident frequencies up to 25% and cut car insurance premiums by $20 billion by this year.
Do Insurance Companies Offer Discounts on Vehicles Equipped with Advanced Driver-Assistance Systems?
According to the Forbes article, accident insurance discounts have not completely caught up to the positive data accumulated in recent years. In 2018, HERE Technologies and Swissre administered a study to determine the impact of ADAS systems on accident deaths, injuries, and property damage. The 2018 research study confirmed these technologies have the potential to decrease auto accidents by about 25% and lower car accident insurance premiums by about $20 billion by this year. However, insurance discounts for ADAS-equipped motor vehicles have not been made available.
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