Nation’s Largest Auto Insurer Joins Arizona’s Institute of Automated Mobility
PHOENIX, AZ (October 18, 2019) — The Arizona Commerce Authority and State Farm ® announced today the company is joining the Institute of Automated Mobility (IAM), the consortium Governor Ducey established by executive order in October 2018.
State Farm becomes the first insurance company to partner with IAM, a collaborative effort among experts from private industry, government and academia working together to advance research in automated vehicle science, safety and policy. As the country’s largest auto insurer, State Farm has been actively engaged in research and multi-industry collaboration around automated vehicles for a number of years in order to understand this evolving technology.
“State Farm is a strategic contributor in the effort to advance this technology, ensuring that safe and responsible development remains a top priority,” said Governor Doug Ducey. “As Arizona charts the path forward, we thank the company for sharing our vision of the future of automated mobility.”
“As a leader in automotive insurance, State Farm brings unique perspective and valuable expertise to this effort to advance automated vehicle safety and accelerate the commercialization of this technology,” said Sandra Watson, President & CEO of the Arizona Commerce Authority. “The company joins an excellent group of private sector partners, and we are grateful for their support.”
“Like seatbelts and airbags, automated vehicles have promising safety benefits when it comes to protecting everyone who shares our roadways,” says Mark Oakley, Senior Vice President of Labs @ State Farm. “Our involvement in IAM will help State Farm better understand this emerging technology and make sure our customers’ needs continue to be met now and in the future."
The establishment of IAM unites global industry leaders, a public sector team and the brightest minds in academia focused on advancing all aspects of automated vehicle safety, science and policy.
IAM is overseen by the Arizona Commerce Authority and brings together the Arizona Department of Transportation, the Arizona Department of Public Safety, all three Arizona universities — Arizona State University, University of Arizona and Northern Arizona University — and private industry, with private-sector partners Intel Corporation and Exponent.
Governor Ducey named Dr. Sethuraman (Panch) Panchanathan as his Advisor for Science and Technology. In this role, he manages IAM’s corporate engagement strategy, helping partners to identify their research areas and define projects, then directing those projects to teams of faculty from Arizona’s public universities.
In the past year, IAM and its industry partners developed its research and development roadmap and launched its first on-road project in the Phoenix area. At full build-out, IAM will consist of facilities designed for complex research and testing scenarios, with a simulation lab as well as technology-neutral physical infrastructure offering multiple route configurations, intersections, signage and traffic signals.
According to the National Highway Traffic Safety Administration, more than 90 percent of car crashes are related to driver error. Automation may play a role in protecting drivers and passengers from many of the driving behaviors that lead to car crashes.
Media contact
Connie Weber, [email protected], (602) 845-1243
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 and home insurance in the United States. Its nearly 19,000 agents and approximately 58,000 employees serve approximately 83 million policies and accounts – approximately 81 million auto, fire, life, health and commercial policies and approximately 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. 36 on the 2019 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter @azcommerce