Autonomous Vehicles and the Finance Sector - Monitoring the Road to Autonomy

This is a popular event with a waiting list, if you would like to place your name on the waiting list, please contact Manar Al-Muflahi by 1st June.


Hosted by four organisations - Bank of England, techUK, Centre for Connected and Autonomous Vehicles, and Association of British Insurers, this event will provide an opportunity to discuss Government policy, technology and the potential implications for the financial services sector arising from the introduction of Autonomous Vehicles.

The seminar will provide an update on the path to Autonomous Vehicles and the extent to which other mobility services are likely to change the landscape. We will also explore the extent to which the current regulatory framework needs to adapt to enable transition while ensuring resilience. 

The event will be broken up into four sessions:

1. Infrastructure and Policy; Chaired by Matthew Eglinton, CCAV

  • David Wong, SMMT
  • Iwan Parry, Gateway-TRL

An update on the future and current work being planned and carried out by Government on the UK’s regulatory framework to facilitate the safe development and deployment of Autonomous Vehicles. The session will seek to build a deeper understanding of the work the Government is doing in this sector and provide further detail on the breadth of testing being funded by Government and industry to develop this technology. In particular, panellists will discuss the future of mobility as highlighted within the Industrial Strategy and how Automated Vehicles will play its part in this area.

2. Technological advancements; Chaired by Sue Daley, techUK

  • Daniel O'Neil, RackSpace
  • Nigel Walsh, Deloitte
  • Tom Westendorp, NVIDIA Corporation

This session will explore the strength and maturity of the UK technology landscape and broader digital ecosystem, which is essential to the development and use of Autonomous Vehicles. The panel will seek to build a deeper understanding of the role of key enabling technologies including data analysis, machine learning, cloud computing, the Internet of Things and AI. Furthermore, it will explain why convergence of these technologies is vital to getting Autonomous Vehicles on the roads. In particular, the session will discuss the importance of data-driven tools and technologies in encouraging consumers to buy, insure and use Autonomous Vehicles and the steps needed to reach level 4 and 5 automation. The panel will also review the role of technology in the wider context of automotive usage and ownership.

3. Impact for banks of potential changes to motor financing; Chaired by David Wall, Bank of England

  • Charles Bilyeu, FCE Bank
  • Luke Sugden, Close Brothers
  • Jaco van Tonder, MotoNovo Finance
  • Geraldine Kilkelly, FLA

The emergence of CAV technology is expected to have implications for the banking sector, through banks’ provision of motor finance. In particular, an expected rise in car usership, together with a parallel decrease in private individual ownership, could impact the level of demand for PCPs (Personal Contract Purchase) and lease financing in the UK. However, new lending opportunities may arise if commercial organisations providing autonomous taxi services own fleets of autonomous vehicles. This session will explore the topic and discuss what threats and opportunities such changes will provide to banks’ motor financing arms.

4. Impacts for Insurers; Chaired by Tim Marlow, ABI

  • Gary Nuttall, Distlytics
  • Neil Ingram, DLG
  • Christ Wiltshire, Bank of England

As we move ever closer to the arrival of Autonomous Vehicles on the UK’s roads, this panel will discuss how this will impact the insurance business model over the foreseeable future. This will include what insurers see now from vehicles with Advanced Driver Assistance Systems (ADAS) and how these will evolve going forward. The panel will also examine the impact and implications of The Automated and Electric Vehicles Act, particularly for future product development and the way in which claims for Autonomous Vehicles are likely to be dealt with.


If you are interested in placing your name on the wait list, please contact Manar Al-Muflahi by 1st June.

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