Swiss Re and Toyota Insurance Services are in a partnership integrating the data from Toyota and Lexus cars equipped with ADAS (Advanced Driving Assistance Systems) with Swiss Re’s insurance risk systems and their ADAS risk score. As part of this, MOTIX Connected is providing the vehicle data service for all vehicles in Europe.
Toyota and Lexus vehicles include highly-sophisticated driver safety aids and passenger protection. A fundamental part of insurance risk and pricing is the safety of the vehicle, and the ability and technologies incorporated to avoid and deal with. Good examples of this are the use of automatic emergency braking, lane assist, or collision detection. MOTIX Connected is providing these important data services, being the only telematics and connected insurance technology provider to have developed integration with Toyota and Lexus, storing ADAS capability related risk scoring for all vehicles and model variants.
These are all part of the journey to fully autonomous vehicles. As cars become more and more sophisticated, and more safety features and data available, insurers have the challenge of assessing risk by vehicle make and model, and by driver profiling and behaviour. These all make a difference to risk pricing and insurance costs. Swiss Re have pioneered making this possible through ADAS specification integration into their risk scoring systems, and are now partnering with Toyota & Lexus for a launch in 2021, following a similar partnership with BMW starting in 2019. Toyota and Lexus customers will therefore also benefit, not only from the sophisticated safety features of the vehicles, but from optimised insurance pricing that suits them.
Ryadh Jibali, CEO of MOTIX Connected says,
“We are delighted to be partnering with Toyota Insurance Services and Swiss Re to make this important contribution to improving risk pricing, driver safety and customer service to them and to all Toyota and Lexus Drivers. As one of the technology pioneers of the UBI industry in Europe, we have deep knowledge and experience of vehicle data collection, analysis and insight. As the world moves to new forms of transport usage, such as autonomous vehicles and multi-modal travel, our new generation AI-powered MOTIX Platform, which we are using for Swiss Re & TIS solution, gives us all the flexibility and power to meet customer needs. This partnership with Swiss Re and Toyota Insurance Services shows how forward-thinking companies can use vehicles safety specifications and advancements, connected insurance, and mobility protection technology to significantly benefit their businesses and their customers.”