Will driverless cars drive motor insurers to the wall?

SINGAPORE'S motor insurance industry has a blind spot: Driverless vehicles.

Motor insurance is the cash cow for general insurers here, accounting for nearly one-third of the general market.

In 2015, car insurers hauled gross premiums of S$1.1 billion - a 4 per cent drop from S$1.2 billion in 2014 due to stiffer competition and a drop in car population.