Swiss Re partners with Baidu for autonomous vehicle insurance

Swiss Re is working with Baidu to develop insurance products for the Chinese tech giant’s autonomous driving business.

Autonomous driving is expected to pose a host of new challenges for the insurance industry, including rapid technology upgrades, increasingly diverse risks, and limited data availability.

The Swiss Re-Baidu partnership will develop insurance services covering the entire autonomous driving value chain, including risk factor selection, product pricing, claims and underwriting data standards.

The first objective of the agreement is the launch of self-contained valet parking insurance for Baidu’s Apollo Valet Parking product.

Going forward, the partners will work on risk management research and insurance offerings for autonomous driving computing platforms, intelligent cockpits, axis robots and other automated driving products.

Andrea Keller, Head of Automotive and Mobility Solutions, Swiss Re, says: “Together with our partner Baidu, we analyze how automated cars perceive their environment and how they process and react to this information. Our goal is to understand how these vehicles behave. differently from those driven by humans and quantify these differences.

“Ultimately, we aim to take auto insurance products to the next level of innovation.”

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