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More Safety and Bigger Profits for Insurers

On 17 February 2019 Consumer Reports published a very useful article about collision avoidance systems now available in new vehicles.  The safety systems, which may vary by name from manufacturer to manufacturer, are listed below.

Consumer Reports

  • FCW (forward-collision warning): Visual and/or audible warning intended alert the driver and prevent a collision.
  • AEB (automatic emergency braking): Brakes are automatically applied to prevent a collision or reduce collision speed. AEB comes in two forms…
  • CAEB (city automatic emergency braking): Brakes are automatically applied to prevent a collision or reduce collision severity when traveling at city speed.
  • HAEB (high-speed automatic emergency braking): Brakes are automatically applied to reduce collision severity when traveling at highway speeds.
  • PD (pedestrian detection) – The system can detect pedestrians, then issue warning and trigger automatic emergency braking, if necessary. Some can detect cyclists.
  • LDW (lane departure warning): Visual, audible, or haptic warning to alert the driver when they are crossing lane markings.
  • LKA (lane keeping assist): Automatic corrective steering input or braking provided by the vehicle when crossing lane markings.
  • BSW (blind spot warning): Visual and/or audible notification of vehicle in blind spot. The system may provide an additional warning if you use your turn signal when there is a car next to you in another lane.
  • RCTW (rear cross-traffic warning): Visual, audible, or haptic notification of object or vehicle out of rear camera range, but could be moving into it.
  • Rear AEB (rear automatic emergency braking): Brakes are automatically applied to prevent backing into something behind the vehicle. This could be triggered by the rear cross-traffic system, or other sensors on the vehicle.
  • LCA (lane-centering assist): Continuous active steering to stay in between lanes (active steer, autosteer, etc.)
  • ACC (adaptive cruise control): Adaptive cruise uses lasers, radar, cameras, or a combination of these systems to keep a constant distance between you and the car ahead, automatically maintaining a safe following distance.  If highway traffic slows, some systems will bring the car to a complete stop and automatically come back to speed when traffic gets going again, allowing the driver to do little more than pay attention and steer.

More safety causes bigger profits for insurance companies

Advanced Emergency Braking

Information provided by Wikipedia suggests that by 2022 Advanced Emergency Braking (AEB) systems will effectively be standard equipment on all new models.  In terms of informed guesswork, the projected statistic of a reduction of “28,000 collisions and 12,000 injuries” in the United States, is discussed.  No doubt quite a few deaths will be avoided with this amazing and long overdue technology.

Worldwide, including some areas where drivers make up their own rules of the road, a great deal of road carnage will be prevented.

The pioneers of car safety who progressively throughout the 1950’s to the end of the 20th century brought in the padded dash, seatbelts, headrests, crush zones, side panel reinforcement, and airbags, would be gratified to see their vision of safety oriented engineering reach this level of fulfillment.

How insurance companies benefit

Who is most aware of this fantastic progress?  Answer: Insurance Companies.  Watch the American Insurers compete through hyper aggressive advertising for market share.  They know that as the safety technology becomes more and more perfect they will be called upon less and less to pay claims.

Yes, big profits in the future for successful private insurers, and also significant financial relief for the various insurance plans, private and government, in Canada.

Road Rules by Cedric Hughes and Leslie McGuffin