Ajit Jain: Self-driving cars will 'dramatically change' auto insurance

Well, Ajit. Yeah, there's no question that insurance for automobiles is going to change dramatically once self-driving cars become a reality. The big change that we will see is what you identified. Most of the insurance that is sold and bought revolves around operator errors and how often they happen, how severe they are, and therefore what premium we ought to charge. To the extent these new self-driving cars are most safe and are involved in fewer accidents, that insurance will be less required. Instead, it'll be substituted by, as you mentioned, product liability. So we at GEICO and elsewhere are certainly trying to get ready for that switch, where we move from providing insurance for operator errors and be more ready to provide protection for product errors and errors and omissions in the construction of these automobiles.