The first lie is that everyone will use autonomous cars in any recent period. It will take decades to get the old cars off the roads. And there are no autonomous motorcycles or scooters or bicycles or hundreds of other non-autonomous things that can cause crashes. And why the hell would anyone want an authonomous motorcycle or bicycle??
The second lie is that everyone will use their autonomous car in autonomous mode. If the road is icy, will your car just stop?? Many will not have the patience for that and will take over control if the car deems it too dangerous to continue or drive at an acceptable rate. At least until people lose all of the driving skills.
I can bet with some certainty that autonomous cars won't go over the speed limit. I find it highly doubtful that a majority of the population that now enjoys driving 5-10mph over the speed limit will allow that. And I doubt if autonomous cars are going to include a 'drive over the speed limit' function.
I've thought about this, and while I might enjoy the car taking over for short periods, if I have to sit behind the wheel, I might as well drive. And, quite frankly, I enjoy driving. My daughter and I just drove to Michigan from Phoenix together over 4 days (she was moving). We had a great time. Over the next few months, I'm going to be driving to Florida twice, once by myself. I think it might be great to have a car that can take over if I fall asleep, but what's the use in driving if you can't drive??
I look forward to the technology that comes out of autonomous car tech that will help to reduce crash rates. Improved alerting capability is a great feature, and already available in many cars. The ability to switch it on so one can text or take a phone call is great. I see autonomous features being used periodically, not all the time.
This is no different from adapting to increased internet demand to use their product. Those that adapt will rule the market. Those that don't will die and get taken over by the rulers.
If I am correct, the insurance companies have decades to adapt. As revenues decrease, employees won't be replaced. Further automation will take place. Stock prices may drop and dividends may decrease, but companies don't make money from stock once the stock is sold. Investors can demand change all they want, but if everyone in an industry is in the same boat, the smart ones will flee leaving others holding overpriced shares and watching them tumble. If I was a CEO of an insurance company, I'd start taking advantage of any ability to sell that I can.