What does the future of the taxi industry look like?

The taxi industry is one of the oldest in the world, with horse-drawn Hackney Carriages dating back centuries. However, in recent years, the industry has undergone its biggest transformation since the invention of the automobiles as tech companies such as Lyft, Uber and Kapten have taken over.

As vehicle manufacturers push more towards a fully electric movement, what does this mean for the future of the taxi industry? The future looks very different, so we have put together what we think the next decade will have in store for the taxi industry.

Whatever the future holds, however, insurance will always be required, so if you are looking for Uber insurance or to compare taxi insurance prices, take a look at QuoteRadar and find the lowest cost for your policy.

The Vehicles

When it comes to the future of the taxi industry, the biggest changes we will see over the next decade will be the vehicles used to transport passengers from one point to another. Already on the streets of every major city in the world, the use of electric and hybrid vehicles is on the rise and this is only going to increase in the coming years.

Across London, the traditional ‘black cab’ has become fully electric and many taxi drivers are now driving around in eco-friendly vehicles. Not only is this better for the environment but it also helps them to evade additional fees with the likes of the Ultra Low Emissions Zone requiring drivers to pay a penalty for those vehicles which do not meet the clean air criteria.

Taxis nowadays are all about the comfort they offer passengers alongside the reliability and efficiency that they offer drivers. Increasingly customers throughout the world are opting for comfort during their travels and luxury cars are now more common than the older, uncomfortable taxis.

Again, this is also only going to become more of a priority for passengers in the future as they demand to travel in increased comfort as well as in a vehicle that is increasingly cleaner and greener for the environment.

One area of the future which might worry many taxi drivers is the introduction of autonomous vehicles. Although still, a long way from becoming a common sight on the streets of vehicles, in 2019 Tesla CEO Elon Musk announced plans to put over one million ‘Robo Taxis’ onto the streets of America within the next decade.

The plan for these entirely autonomous vehicles is for everyday users to be able to book one through an app, the same was you would for an Uber, and it would use a host of front and rear-facing sensors to successfully navigate around.

Elon Musk is not the only persona actively pursuing autonomous driving, with the likes of Ford, Jaguar and Land Rover all contributing and testing their own range of vehicles. Even Google has gotten into the game and begun testing a fleet of self-driving cars.

However whilst there might be many tests being undertaken this is still a long way from becoming reality.

The Driver

This rise in autonomous vehicles might be of some concern to many taxi drivers out there in the world, however, they are still a vital cog in the machinery of the taxi driver industry.

Whilst previously the only criteria needed was a vehicle and a knowledge of where to go, in recent years the rise of Uber and other such services has placed more emphasis on drivers to be more customer-focused as they are now facing customers who can rate their service.

This will only become more prevalent in the coming years and the most successful drivers will be those who put the customer first. There are many tips you can do to improve your service including:

• Be More Welcoming

Greeting the passenger and making them feel warm and welcome at the start of the ride makes them feel comfortable and sets the tone for the rest of the journey.

• Be Helpful

The taxi driver of the future will need to go that little extra mile to ensure customers are feeling like they are getting value for money. From helping them with their luggage to checking if they have left anything behind; it all counts towards the service levels.

• Image

Customers are increasingly becoming more attuned to the vehicles they are riding in and their drivers and the taxi driver of the future will need to be well presented and exuding an air of professionalism.

• Thank Them

Another important aspect of improving the service your customers receive is to acknowledge them at the end of the trip. Thanking them for choosing you and wishing them a good day leaves a memorable experience and means they are more likely to rate you with five stars and even leave a tip.

The more personal the service and the more valued that a customer feels, the more likely they will be to seek out that human touch in the future; negating the use of autonomous vehicles and ensuring the future of the transportation industry.

The customer

The customer of the future is going to be far more demanding than ever before. As technology continues to advance, the customer of the future will demand that their taxis follow suit. From a completely digital booking process to the ability to track and search for specific drivers too.

The customer of the future is also going to be more demanding when it comes to the service levels that they expect too. The rise of social media has created an environment of instant gratification too, so drivers will be expected to go above and beyond to ensure that customers are able to enjoy a seamless and five-star experience.

Of course whilst the industry is changing at a rapid rate, it is still a very strong career prospect for many drivers and there will always be a demand for a taxi service. If you are thinking of becoming a driver, or are already operating within the United Kingdom, then it is important that you have the right level of insurance for your needs.

Taxi insurance is specifically designed to cater for both yourself, your passenger and also your vehicle too. There are many options out there for taxi drivers to choose from, including the Public Hire, Private Hire, Uber Insurance, Hire & Reward, Gap Insurance and Loss of Earnings so making sure that you have the right level of cover for your requirements is vital.

If you are unsure of which level of cover that you need, or are looking for the cheapest insurance quotes possible, our team at QuoteRadar can help you. We do not personally sell insurance ourselves, nor do we act as an insurance broker, so you can relax knowing our service is aimed solely at ensuring you receive the best possible policy you can get.

We work with a number of UK insurance providers and a simple five-minute process is all it takes to get you a five-star policy. The future of the taxi industry is changing, which is why we help drivers find tailored, modern solutions for their needs.