Munich Re America launches mobility domain to understand risk
Munich Re America has launched a mobility domain as part of its increased focus on innovation and emerging risks.
The mobility domain will focus on establishing strategic partnerships and pilot projects that will enable the company and its clients to develop risk management solutions for the new era of mobility.
It will cover areas such as vehicle telematics, shared mobility, crash avoidance systems, and autonomous driving. Over time, these technologies could also help to reduce loss costs in the auto insurance marketplace.
As part of this, Munich Re has partnered with a developer of mobile robotics pilot projects, to gain firsthand knowledge of how autonomous vehicles (AVs) will operate in real-world environments, and to gather AV data.
Jill Beggs, head of new strategic markets, Munich Re America, said: “The hallmarks of our company are innovation, solidity and client focus - elements that uniquely combine when deriving risk management solutions for the mobility challenges and opportunities that lie ahead.
“Our new mobility domain is already identifying key partners, technology and data sources that will enable us to develop a long-term competitive edge. This work has tremendous potential to save lives, reduce accidents, provide fuel economies and improve road efficiencies, as well as to open up new business opportunities for Munich Re.”
Mike Scrudato, senior vice president, new strategic markets and leader of the mobility domain, Munich Re America, added: “Autonomous vehicle and other mobility technology sit at the intersection of a number of emerging trends that, together, will change not only driving but the nature of mobility.
“Development of these visions could face a host of social, economic and regulatory factors impacting insurers and their customers. Those who remain at the forefront of AV developments will be better positioned to successfully manage and leverage these impacts and business opportunities.”
