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Swiss Re inks deal with Baidu for auto business

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Swiss Re has struck a partnership with Baidu to provide risk management services and insurance products for the Chinese tech firm’s autonomous driving business.

The deal will allow Swiss Re to tailor autonomous driving insurance as manufacturers advance the technology. Swiss Re also said the partnership will advance risk management research and insurance development for autonomous vehicles.

The pair has already launched an autonomous valet-parking insurance product, Apollo Valet Parking. Future research and product innovation will include autonomous driving computing platforms, intelligent cockpits and driverless taxis.

Swiss Re CEO for reinsurance Asia and regional president of Asia Russell Higginbotham said: “By combining our respective risk knowledge and insights, we hope to jointly explore and develop innovative products and solutions, catalyse the transformation of the autonomous driving value chain and further advance the mobility ecosystem.”

Andrea Keller, head of automotive and mobility solutions at Swiss Re, said: “Together with our partner Baidu, we analyse how automated cars perceive their surroundings and how they process that information and respond to it.

“Our goal is to understand how such vehicles behave differently than human-driven ones and quantify these differences.

“Ultimately, we aim to bring motor insurance products to the next level of innovation.”

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