State Farm Companies: Driverless Cars

BLOOMINGTON, Ill., Dec. 5 -- State Farm Companies, an auto, home and individual life insurance provider, issued the following news release:

State Farm worked with Bloomberg Government to measure the public's perceptions of driverless cars. The results were presented at Bloomberg's Next Tech event in Washington, D.C. on Nov. 15, 2016. Strategic Resources Director Chris Mullen represented State Farm on the panel.

Click links in the left navigation bar to download a full survey report and Bloomberg content.

About the survey - Bloomberg Govenment conducted the survey on behalf of State Farm to:

* Establish a better understanding of the general public's attitudes and expectations around the acceptance of automated vehicle technologies.

* Gain a better understanding of the public's impressions of these technologies and the knowledge gaps that may exist around their use.

* Focus on how this new technology will impact consumer behavior, with a spotlight on safety.

Key Findings

* Between 30-40% would definitely consider riding in a vehicle with autonomous/self driving capabilities...if:

* The vehicle was in an area with few or no other vehicles

* In low speed areas

* For very short rides, under 10 minutes

* While some are willing to try, most are not completely at ease with the concept.

* Less than 20% would definitely consider riding in an autonomous vehicle in heavily congested or high speed areas (65 mph+).

* Respondents said they would be most comfortable with autonomous/self-driving vehicles that they own or lease.

* There is less comfort with autonomous/self-driving buses, shuttles, taxis or ride sharing services (Uber, Lyft, etc.) compared to other autonomous/self-driving vehicles.

* Autonomous vehicles are not yet considered a solution for those unable to drive.

* This is particularly true of those too young to drive - only 14% are very comfortable with sending younger (non-drivers) in an autonomous vehicle.

* Respondents consider it slightly more acceptable to have the physically disabled or the elderly travel in this manner.

* Over half are very concerned about the possibility of dangerous outcomes due to autonomous/self-driving vehicles such as:

* Computer system malfunctions, especially if they cause the vehicle to crash

* The potential for hacking, taking over the vehicle

* Sensors not operating optimally in certain weather conditions or at night

* Only about a third believe these dangerous outcomes are very likely to occur

* There are a number of potential benefits that make autonomous vehicles attractive, including the possibility of:

* Lower accident rates

* Lower insurance rates

* Being able to travel while drowsy * Reduced traffic congestion

* Demographics are best at explaining comfort with autonomous vehicles. Those most predisposed toward autonomous vehicles tend to be:

* Male

* Under the age of 40

* Have a college degree

* The amount of time an individual spends in a vehicle is also positively related to interest. However, those that are rarely passengers are LESS interested in trying an autonomous vehicle.

* Seeing an autonomous/self-driving vehicle operate first hand and/or being exposed to research demonstrating their safety will go a long way toward appeasing consumer concerns.

About State Farm

The mission of State Farm is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams. State Farm and its affiliates are the largest providers of auto, home and individual life insurance in the United States. Its 18,000 agents and more than 65,000 employees serve more than 83 million policies and accounts - nearly 81 million auto, home, life, health and commercial policies, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 35 on the 2016 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.

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