Swiss Re partners with Pioneer
Swiss Re and global car electronics company Pioneer have co-developed an “innovative telematics solution that provides insurers with better and more personalized risk assessment,” while supporting safer driving behavior. The combined solution will be integrated in Swiss Re’s Coloride app and is set to be launched globally early next year.
With the new solution, Coloride will provide real-time driver warnings based on Pioneer’s map data and ADAS algorithms. Additionally, the new 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.
“Swiss Re is working with partners across the industry on new digital insurance solutions that will help close the protection gap in all lines of business. Together we explore new opportunities to solve challenges that span the insurance value chain, expand the footprint of insurance, and make insurance more affordable and available, while better engaging customers.” – Eric Schuh, Global Head P&C Solutions at Swiss Re.
“With Coloride, we already provide one of the highest-ranked telematics apps to our clients, allowing insurers to accurately reflect the driving behavior of their policyholders into their pricing. Moreover, the increased interaction with customers leads to more acquisition and retention, and with Coloride insurers can offer end customers valuable features that help improve safety. Following our clients’ demand, through our collaboration with Pioneer, we complement the current offering with instant safety information and hardware-enabled features, like automatic accident detection, first notice of loss and fast claim settlement, as well as advanced claims reconstruction, via a dedicated portal available to insurers.” – Sebastiaan Bongers, Head of Automotive & Mobility Solutions at Swiss Re.
“We are delighted to be working with one of the world’s major reinsurance companies, which is leading the way in the deployment of insurance-focused telematics solutions. Today’s announcement is the culmination of a fruitful collaboration between our teams and is testament to both parties’ commitment to reducing accident and driver risk through the use of advanced telematics technology.” – Seiji Tanezawa, Executive Officer, Data Solutions Business Management Group, Mobility Service Company at Pioneer.