Swiss Re and Daimler launch Movinx to transform automotive and mobility insurance business

The joint venture will be open for cooperations with other stakeholders such as car manufacturers or, more generally, mobility service providers. Future partners will benefit from our co-owned insurance MGA and be able to offer white-labeled solutions globally. Instead of having to deal with many insurers, the manufacturer has one sparring partner, Movinx, across countries.

Movinx will then partner with locally licensed insurers to deliver its solutions to the end-customers and cover insurance risk. Insurers and other stakeholders can connect to the IT platform and profit from centralised operations and automated processes supported by a combination of machine- and deep-learning technologies. By connecting to the MGA’s platform, insurers benefit from not having to build tailored and quickly changing insurance programs.

Movinx will be located in Berlin and is set to expand quickly

Sebastiaan Bongers, Head Mobility Ventures at Swiss Re, and Andreas Roth, Head Digital Insurance Model at Daimler Insurance Services, will lead the new company. Offices opened in Berlin in October. The first insurance products and services are planned to launch in France in 2021. In the coming years, further market entries are planned across Europe, in the Americas, and in Asia.

About Swiss Re

The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally. It is organised into three Business Units, each with a distinct strategy and set of objectives contributing to the Group’s overall mission. For more information, please visit www.swissre.com.

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SOURCE: Swiss Re