The Swiss reinsurance giant has founded a joint venture with Germany's luxury carmaker. The digital startup aims to revolutionize the business with mobility insurance.
Swiss Re and Daimler Insurance Services have taken an equal stake in the digital insurance broker Movinx, a startup based in Berlin. The company will provide insurance services for the motoring and mobility industries, said Swiss Re in a statement on Monday.
Movinx' long-term aim is to create an ecosystem with insurance services for new technological solutions such as autonomous driving and co-ownership of mobility services, said Pravina Ladva, digital transformation officer at Swiss Re.
Mobility Revolution
Ladva aimed at the introduction of extensive driving assistance programs as well as the spread of car-sharing options – two mutually independent developments that have posed challenges to the mobility insurance industry.
The use of autonomous driving systems will remain limited as long as the question of liability for accidents hasn't been resolved.
Co-Leadership for Movinx
Movinx aspires to become an integral part of the purchase of a vehicle as a managing general agent. This will make the link between customers, vehicle and insurance solution closer and therefore durable, said Swiss Re.
The new company has joint management in Sebastiaan Bongers, head of mobility ventures at Swiss Re, and Andreas Roth, head of digital insurance model at Daimler
Fast Expansion Planned
Movinx has moved into new offices in Berlin in October 2020. The firm will launch its first product in France next year. The founders of the firm want Movinx to expand to new markets quickly, planning a launch in further European markets as well as America and Asia in the coming years.
