Travelers Joins Automated Vehicle Coalitions in Shaping the Future of Transportation
October 10 2019 - 8:59AM
Business Wire
The Travelers Companies, Inc. (NYSE: TRV) today announced that
it has joined the Advanced Vehicle Technology (AVT) Consortium at
the Massachusetts Institute of Technology (MIT) and Partners for
Automated Vehicle Education (PAVE). Both organizations work to
strategically advance research and public information about
automated vehicle and driver assistance technologies.
“As a leading auto insurer, we play a central role in the
conversation about the future of transportation and mobility,” said
Michael Klein, Executive Vice President and President of Personal
Insurance at Travelers. “Our goal through these new collaborations
is to continue to understand the evolution of the technology,
actively engage in research and contribute risk management insights
to help improve auto safety for everyone.”
The AVT Consortium includes top U.S. auto manufacturers,
insurance carriers and automated vehicle technology companies. The
organization studies driver behavior, including how drivers respond
to and interact with adaptive cruise control, semi-autonomous
parking assistance, vehicle infotainment systems and smartphones.
That data is shared with consortium members so they can identify
how technology and other factors related to automation adoption can
be improved.
PAVE is made up of industry, nonprofit and academic institutions
and aims to inform and educate consumers and policymakers about
automated vehicles. The group creates consumer awareness campaigns,
develops information for sales and customer service personnel and
hosts hands-on demonstrations and public workshops. The goal of
these efforts is to build consumer confidence in vehicle
technology.
“Automated vehicle technologies are changing the risks on the
road, including the dangers associated with distracted driving,”
said Joan Woodward, Executive Vice President of Public Policy for
Travelers and President of the Travelers Institute, who leads the
company’s Every Second Matters℠ distracted driving campaign. “We
look forward to working closely with PAVE and MIT’s AVT Consortium,
two groups that will help ensure the next phase of transportation
includes improved mobility and safety.”
Travelers’ white paper, titled Insuring Autonomy: How auto
insurance can adapt to changing risks, offers the company’s
assessment of the existing auto insurance structure, both personal
and commercial, in the context of resolving claims and providing
fair compensation to accident victims as vehicles become more
autonomous. The white paper also describes how the development and
rollout of this technology will help spur innovation, increase
public safety, provide peace of mind and protect American drivers
and consumers.
For more information about Travelers’ efforts with autonomous
vehicles, visit
Travelers.com/travelers-institute/insuring-autonomy.
About Travelers The Travelers Companies, Inc. (NYSE: TRV)
is a leading provider of property casualty insurance for auto, home
and business. A component of the Dow Jones Industrial Average,
Travelers has approximately 30,000 employees and generated revenues
of approximately $30 billion in 2018. For more information, visit
www.travelers.com.
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Sperry Mylott, 860.277.5075 smylott@travelers.com
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