A unicorn is entering insurance

Rivian, the American automaker and automotive technology company that raised over $3 billion from investors such as Amazon, Ford Motor Company, and Cox Automotive, is entering insurance.

According to a job posting, the electric automaker is building an in-house insurance agency and it is looking for someone who will “lead the licensed sales team responsible for sales and distribution of Rivian insurance products.” And in May 2019, Mike Slattery, whose insurance experience includes roles at Liberty Mutual, The Hartford, Safeco, and AAA, joined Rivian as head of insurance.

Bottom Line: following in the footsteps of Tesla.