Swiss Re and Pioneer create insurtech solution

Swiss Re and car electronics company Pioneer have partnered to develop a telematics solution, set to be released globally early next year.

It will be integrated into Swiss Re's telematics application Coloride, which assigns motorists with a risk score that insurers can use to calculate a usage-based insurance premium. This allows to financially reward cautious drivers and flag risky behaviour.

With the addition of the solution, Coloride will provide real-time driver warnings based on Pioneer's map data and advanced driver assistance systems algorithms. It will also include claims-related services, as the solution can be extended with a range of devices that collect acceleration data to accurately identify and reconstruct a crash. Some of the devices also have a manual emergency button, so the driver can call for support after an accident.

Road traffic accidents kill 1.2 million people every year, costing economies between 1% and 3% of their gross national product, according to the World Health Organisation.

Head of automotive and mobility solutions at Swiss Re, Sebastiaan Bongers said that the solution had been developed following their clients’ demand. “Through our collaboration with Pioneer, we complement the current offering with instant safety information and hardware-enabled features,” he added.

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