As you might already know, the future of the automotive industry lies in the technology already found in most new vehicles. The future once described in sci-fi movies and tv series where self-operating vehicles would steer their owner in the direction of home is slowly becoming a reality. But what does this mean for automotive insurance companies and the automotive repair industry?
With warning systems such as Progressive Insurance’s “Snapshot”, drivers have already begun improving their driving by listening to the rather annoying beeping sound that initiates when they speed. Progressive insurance offers a 10% discount for good driving behaviour so it’s no surprise that many are saving money by listening to the beep. This is good news for the industry that doesn’t need any more deaths caused by accidents but the savings have affected insurers profits and have them thinking what’s in store for the future?
Driverless cars seem to be around the corner and with this technology looking to dramatically remove road rage and accidents from the picture entirely, insurance companies and repair shop owners are wondering how this will affect their profits. Truth be told, we’re all a little preoccupied, but luckily, insurers have found a way to stay a step ahead of technology and even use it as an ally in the search for a more lucrative business in the future.
Imagine you’re driving down the highway when your car’s dashboard and sensors inform you of one of your tires going flat. You get a message on the screen immediately informing you of where you are and how close the nearest automotive repair shop is. Interesting, isn’t it? This is the future that automotive repair shops have been contemplating for the past few years and why every vehicle in the country will be a moving mobile marketing machine.
How will this happen?
It’s simple, the tools are already found in most modern vehicles. These cars are loaded with tons of technology, technology that should make us a lot safer and it is this added safety that will make repair shops less frequented due to less fender benders but due to receive many more walk-in customers unexpectedly. Insurance companies that will own the rights to your dashboard will surely sell the advertising space to the highest bidders but with GPS found in every vehicle, drivers have the comfort of locating your repair shop if they’re in your area and instantly pull up your prices as well as reviews. Exciting, isn’t it?
There’s Always more
Repair shop owners will also be excited to hear that there’s more money to be made than you can possibly imagine. Insurers know when a driver has accumulated multiple tickets and repair shops in the driver’s area that offer driving courses will be first in line to receive reckless drivers looking to improve the driving that has sullied their good name. Repair shops in the area are also set to appear on driver’s dashboards when one of their tires all of the sudden loses pressure or it’s time for a routine check-up. Dealerships will also certainly jump on the opportunity to get ad space on dashboards if they’re running specials. The possibilities are endless.
The future of the automotive industry that we’ve been waiting for is right around the corner and with it comes safer roads, better drivers and an optimistic future for both drivers and repair shops so let’s not let technology defeat us and learn about what tools we need as repair shop owners in order to get your slice of the pie.