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Autonomous vehicles, risk perceptions and insurance demand: An individual survey in China

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  • Xu, Xian
  • Fan, Chiang-Ku

Abstract

Based on an online survey with 1164 participants, this paper investigates the risk perceptions and anticipation of insurance demand for autonomous vehicles in the Chinese market. The findings reveal that autonomous vehicles are highly familiar and have a positive impression in China. Of the respondents, 42.35% and 45.28% expect lower risk and lower insurance premiums for autonomous vehicles, respectively. By using one-way analyses of variance, this paper further examines the statistical effects of perception of autonomous vehicles, insurance purchases and claim experiences as well as personal information on responses to risk perception and insurance anticipation. Several significant factors were found that correlate with each other. Both the understanding of autonomous vehicles and personal information affect risk perception of autonomous vehicles, all of which collectively determine the anticipation of insurance demand for autonomous vehicles.

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  • Xu, Xian & Fan, Chiang-Ku, 2019. "Autonomous vehicles, risk perceptions and insurance demand: An individual survey in China," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 549-556.
    • Handle: RePEc:eee:transa:v:124:y:2019:i:c:p:549-556
    DOI: 10.1016/j.tra.2018.04.009
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    1. Fagnant, Daniel J. & Kockelman, Kara, 2015. "Preparing a nation for autonomous vehicles: opportunities, barriers and policy recommendations," Transportation Research Part A: Policy and Practice, Elsevier, vol. 77(C), pages 167-181.
    2. Ming‐Chou Ho & Daigee Shaw & Shuyeu Lin & Yao‐Chu Chiu, 2008. "How Do Disaster Characteristics Influence Risk Perception?," Risk Analysis, John Wiley & Sons, vol. 28(3), pages 635-643, June.
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    Cited by:

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    2. Foroughi, Behzad & Nhan, Pham Viet & Iranmanesh, Mohammad & Ghobakhloo, Morteza & Nilashi, Mehrbakhsh & Yadegaridehkordi, Elaheh, 2023. "Determinants of intention to use autonomous vehicles: Findings from PLS-SEM and ANFIS," Journal of Retailing and Consumer Services, Elsevier, vol. 70(C).
    3. Wang, Fei & Zhang, Zhentai & Lin, Shoufu, 2023. "Purchase intention of Autonomous vehicles and industrial Policies: Evidence from a national survey in China," Transportation Research Part A: Policy and Practice, Elsevier, vol. 173(C).
    4. Yoo, Sunbin & Kumagai, Junya & Kawabata, Yuta & Keeley, Alexander & Managi, Shunsuke, 2021. "Willingness to Buy and/or Pay Disparity: Evidence from Fully Autonomous Vehicles," MPRA Paper 108882, University Library of Munich, Germany.
    5. Wu, Jingwen & Liao, Hua & Wang, Jin-Wei, 2020. "Analysis of consumer attitudes towards autonomous, connected, and electric vehicles: A survey in China," Research in Transportation Economics, Elsevier, vol. 80(C).
    6. Guo, Yuntao & Souders, Dustin & Labi, Samuel & Peeta, Srinivas & Benedyk, Irina & Li, Yujie, 2021. "Paving the way for autonomous Vehicles: Understanding autonomous vehicle adoption and vehicle fuel choice under user heterogeneity," Transportation Research Part A: Policy and Practice, Elsevier, vol. 154(C), pages 364-398.
    7. Limin Tan & Changxi Ma & Xuecai Xu & Jin Xu, 2019. "Choice Behavior of Autonomous Vehicles Based on Logistic Models," Sustainability, MDPI, vol. 12(1), pages 1-16, December.
    8. Zhang, Lixuan & Yencha, Christopher, 2022. "Examining perceptions towards hiring algorithms," Technology in Society, Elsevier, vol. 68(C).
    9. Demeulenaere, Xavier, 2020. "How challenges of human reliability will hinder the deployment of semi-autonomous vehicles," Technological Forecasting and Social Change, Elsevier, vol. 157(C).
    10. Md. Mokhlesur Rahman & Jean-Claude Thill, 2023. "What Drives People’s Willingness to Adopt Autonomous Vehicles? A Review of Internal and External Factors," Sustainability, MDPI, vol. 15(15), pages 1-29, July.
    11. Andrew Chapman & Hidemichi Fujii, 2022. "The Potential Role of Flying Vehicles in Progressing the Energy Transition," Energies, MDPI, vol. 15(19), pages 1-11, October.
    12. Darren Shannon & Tim Jannusch & Florian David‐Spickermann & Martin Mullins & Martin Cunneen & Finbarr Murphy, 2021. "Connected and autonomous vehicle injury loss events: Potential risk and actuarial considerations for primary insurers," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 24(1), pages 5-35, March.
    13. Chikaraishi, Makoto & Khan, Diana & Yasuda, Banri & Fujiwara, Akimasa, 2020. "Risk perception and social acceptability of autonomous vehicles: A case study in Hiroshima, Japan," Transport Policy, Elsevier, vol. 98(C), pages 105-115.
    14. Nader Zali & Sara Amiri & Tan Yigitcanlar & Ali Soltani, 2022. "Autonomous Vehicle Adoption in Developing Countries: Futurist Insights," Energies, MDPI, vol. 15(22), pages 1-26, November.

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