• Comment from AXA on the House of Lords Science and Technology Select Committee’s report, Connected and Autonomous Vehicles: The future?

    March 15th 2017. Posted in Corporate

    The House of Lords Science and Technology Select Committee has a broad remit to consider science and technology, reviewing Government policy. This timely report will help influence the recent Vehicle Technology and Aviation Bill (VTA) and demonstrates the important considerations that need to be taken on-board.

    David Williams, Technical Director at AXA UK, said:

    “The Report rightly flags data access and standardisation as an important element of the CAV world going forward. 

    “If we want to create a transport eco-system rooted in connectivity, then we must recognise that information is going to be generated by the vehicle’s own automated features, by vehicles communicating with each other and by vehicles communicating with their surroundings. That is precisely what AXA is working on with our partners in the FLOURISH project.

    “If the public are going to really embrace the benefits of autonomous vehicles, we need to make the application of insurance as simple as possible. Reports of drivers having to take out two insurance policies to drive an autonomous vehicle are well wide of the mark but to keep motor insurance as close to the current model as possible, it is vital that all parties involved (including vehicle manufacturers) can agree on standardising and sharing key data and information. Obviously an international agreement would be the best way of achieving that.

    “The Vehicle Technology and Aviation Bill has made a good start by placing people’s protection at its heart and that must remain the guiding principle as we begin to consider the new and emerging risks/opportunities that CAVs present.”

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    About AXA

    The AXA Group is a worldwide leader in insurance and asset management, with 166,000 employees serving 107 million clients in 64 countries. In 2016, IFRS revenues amounted to Euro 100.2 billion and IFRS underlying earnings to Euro 5.7 billion. AXA had Euro 1,429 billion in assets under management as of December 31, 2016. In 2016 Interbrand ranked AXA the 1st insurance brand worldwide for the 8th consecutive year.

    In the UK AXA operates through a number of business units including: AXA Insurance, AXA PPP healthcare and AXA Ireland. AXA employs over 10,000 staff in the UK.

    The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.

    The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.

    It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.