Development of State-Space Models for Predicting Insurance Risk of Accidents in Autonomous Vehicles Based on Telematics Data and Improvements to Existing Modeling Approaches

The development of autonomous vehicles and telematics is transforming the auto insurance sector. Reports highlight Tesla’s insurance ventures predicting a significant revenue share. This shift is underpinned by telematics, which offers detailed insights into driving behaviors and vehicle usage, essential for autonomous vehicle insurance risk assessments and pricing. The research in this domain, especially in South Korea and Canada, is critical, aiming to fill the gap in mathematical statistical models for addressing liability in autonomous driving. This initiative proposes a novel state-space model grounded in telematics data, marking a significant step toward refining insurance models for autonomous vehicles. The internship aims to enhance collaboration between South Korean and Canadian researchers, leveraging gained insights to tackle existing challenges within the insurance industry and develop advanced risk assessment models. This effort is poised to spearhead advancements in autonomous vehicle insurance, influencing the industry’s future significantly. The program is designed to foster technological exchanges and boost industry growth across both nations, positioning them as leaders in the InsurTech domain.

Faculty Supervisor:

Yang Lu

Student:

Partner:

Ewha Womans University

Discipline:

Mathematics

Sector:

Finance and Insurance; Artificial Intelligence

University:

Concordia University

Program: