Insurers and car manufacturers: how to unlock the potential of true collaboration

A successful example of key stakeholders bringing their individual core capabilities to the fore is provided by the collaboration between Mercedes Benz (OEM), HDI (insurer), Swiss Re (reinsurer) and Movingdots (Swiss Re’s tech arm in the auto and mobility space). In this partnership, Mercedes Benz makes connected vehicle data available to Swiss Re and Movingdots to enrich them with additional contextual information (e.g., time of day, road type). Thanks to the data and its superior analytical capabilities, Swiss Re can produce insurance scoring insights and HDI can roll out an insurance product that meets the needs of customers in a fair and convenient way. Flexible by design, the solution will initially be launched in the German market, but could immediately be rolled out in other geographies, even with different input datasets.

Reinsurers have only recently appeared on the branded motor insurance scene. To solve OEM’s desire for a scalable solution across multiple markets, reinsurers can play a unique role in partnering with the insurance industry across many markets, supporting innovation via risk transfer and bridging the existing gap between automotive and insurance industries, allowing them to cooperate under a new paradigm. Their understanding of risk assessment also allows them to bring unique tools and insights to unlock the potential of what both insurers and OEMs could achieve in future.

Reinsurers in general, and Swiss Re in particular, can facilitate innovation, and create long term and sustainable success for all parties. Our historical relationship with the insurance industry, as well as the partnerships announced in recent years with car manufacturers such as BMW, Mercedes Benz and Toyota, are strong evidence that there is solid interest among stakeholders within the automotive insurance value chain.

Gareth Rees: Gareth is Senior Automotive & Mobility Solutions Manager at Swiss Re. Having spent a number of years in the primary insurance industry, working across the fields of telematics, claims and innovation, Gareth now works with clients to identify their needs and assess how Swiss Re can bring value through its suite of solutions. Contact: [email protected]

Gian Matteo Corda: Gian Matteo Corda is Senior Partnership Manager at Swiss Re. He is an aerospace engineer and INSEAD MBA. He combines a profound expertise on the design of automotive safety systems gained at Italdesign Giugiaro (special projects branch of the Volkswagen Group) with a deep knowledge of the auto insurance space stemming from its experience at Allianz and Swiss Re. Contact: [email protected]

About Swiss Re: The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. The Automotive and Mobility Solutions (AMS) team at Swiss Re leverages its expertise in data analytics and its strong network of strategic partners to design and create innovative products addressing the key challenges of primary insurers, car manufacturers and mobility players.

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