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Daimler, Swiss Re Launch Mobility Insurance Venture | Investing News

FRANKFURT (Reuters) – Swiss Re

and carmaker Daimler

announced a joint automotive and mobility insurance venture on Monday, seeking to tap into a wealth of new data generated by highly automated vehicles to help insurers to calculate risk.

The reinsurer and Daimler, parent of the Mercedes-Benz passenger car brand, set up Movinx, a Berlin-based intermediary they will co-own equally, the companies said in a statement.

As connected and autonomous cars generate live data about traffic flows, vehicle reflexes and driver behaviour, the companies expect new opportunities will arise to customise automotive and mobility insurance products.

“Even before cars come off the manufacturing line, we know the specific features and how that car would react in an emergency situation and we can provide a score to insurance partners to better underwrite the risk,” said Pravina Ladva, Swiss Re’s digital transformation officer.

Swiss Re already offers to price risk by looking at

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2020 is the wrong year to launch a car, but Czinger is moving full speed ahead


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Los Angeles-based startup Czinger has remained relatively quiet since it unveiled the 21C, a 3D-printed plug-in hybrid hypercar, in February. Its plans to present the model at the 2020 Geneva auto show were derailed when the event was canceled, and it decelerated its operations to comply with California’s COVID-19-related lockdowns, but work never stopped behind the scenes. We caught up with the brand to get a better idea of where it stands.

Jens Sverdrup, the young brand’s chief commercial officer, told Autoblog engineers began testing prototypes on the road and on the track in August 2019. “This is not one of these stories where you see new companies coming out with a mockup or a computer rendering; we have fully functioning cars, and we’ve spent a significant amount of money on them,” he said. Testing abruptly stopped in the spring, fine-tuning a 1,233-horsepower

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