View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 21, 2020

Toyota Insurance Services partners with Swiss Re on ADAS risk platform

By Verdict Staff

Toyota Insurance Services has partnered with Swiss Re to further develop the Swiss Re ADAS risk score.

TIS is the next partner following the BMW Group to join the ADAS risk score platform.

Under this partnership, TIS will make Toyota and Lexus vehicle data available for the purpose of insurance scoring.

The ADAS risk platform was established with the aim of vehicle-specific insurance rating to assist insurers across the world in calculating insurance premiums.

Under the partnership, these scores will be also available for Toyota and Lexus vehicles, enabling improved evaluation of their safety performance.

Swiss Re Casualty Underwriting Reinsurance head Jason Richards said: “We’re very pleased to announce the partnership with Toyota Insurance Services through which Swiss Re clients will be able to harness the predictive power of the ADAS risk score to all Toyota’s and Lexus’ passenger vehicles.

“By giving customers another incentive to purchase advanced driving assistance systems, we indirectly contribute to reducing accidents. This completely fits with our vision to make the world more resilient.”

The companies plan to start the rollout of the risk scores next year, with an initial focus on European countries.

Toyota Insurance Services CEO Michael Kainzbauer said: “This partnership with Swiss Re takes that mission a step further, enabling our customers to benefit from optimised insurance premiums that reflect the safety improvements it will deliver, as well as contribute to reducing the overall cost of ownership for Toyota and Lexus customers.”

Swiss Re plans to further expand the ADAS platform in partnership with other major car brands. The company noted that it will benefit the car manufacturers by boosting the sales of ADAS-equipped vehicles while offering reduced total cost of ownership for customers.

Last week, the company introduced triple-digit internal carbon levy on its direct and indirect operational emissions to accelerate its transition towards a low-carbon economy.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International