Swiss Re partners with Veoneer to improve advanced driver assistance technology

Swiss Re has partnered with the automotive technology company Veoneer to develop improved advanced driver-assistance technologies (ADAS) and related services.

The partnership will see Veoneer enhance its ADAS technology with Swiss Re data and risk modelling, gaining a better understanding of things like how different road and weather conditions affect performance.

In turn Veoneer will share its expertise on ADAS hardware and software technologies with Swiss Re, feeding into the Swiss Re ADAS Risk Score to the benefit of car manufacturers. This will allow insurers to assess the latest car safety technologies for insurance purposes.

Swiss Re launched the ADAS Risk Score in 2019 to create a vehicle-specific insurance rating that takes driver assistance systems into account.

Steven Jenkins, chief technology officer at Veoneer, said: "With extended knowledge about the real-world performance of various ADAS technologies in different parts of the world, we can develop systems used by vehicle manufacturers globally that support drivers in an even better way. It forms the next step in collaborative driving, putting both driver and technology in focus."

Pranav Pasricha, Swiss Re's global head property and casualty solutions, said the partnership will allow clients to assess the latest ADAS technologies and their potential impact on future claims.

Almost 1.4 million lives are lost, and 50 million people are injured, on roads around the world every year. Swiss Re and Veoneer believe ADAS can reduce the number of road crashes and mitigate the number of fatalities and severe injuries.

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