The Munich-based Mobility Technology Center (MTC), founded to develop car insurance products and risk management solutions, has announced plans to launch its services in June. The center is a joint venture between ERGO Digital Ventures, automotive smart mobility developer Munich Re, In-tech, and MaLiBu, a consultancy.
“Our idea of the car insurance of the future is simple, smart and safe,” says Karsten Crede, board member of ERGO Digital Ventures. “The MTC is intended to be a catalyst for the technologies, developments and innovations that form the basis of this vision. It should be noted in particular that motor insurance in the future will be significantly more digital, flexible and data-driven. The MTC will work here to ensure that insurance policies can be digitally integrated into the vehicle and can be made more individual and needs-based by using the right data.
The MTC plans to serve customers in the automotive, mobility and insurance sectors in Germany and worldwide with solutions for electromobility, automated and autonomous driving, new mobility concepts and services digital and integrated.
The center will work with technologies such as test benches, battery testers, data loggers and driving simulators to analyze real and extreme scenarios, generating data to build risk models. These models will focus on the impact of new technologies on car insurance and warranties, according to Crede. “Our risk models help primary insurers develop an in-depth approach to products and pricing, taking into account advances in technology,” he said.
MTC will begin operations with a 15-member team comprising software engineers, scientists and insurance experts. The MTC will be based at the Technical University of Munich (TU Munich) and will also benefit from the contributions of personnel from the companies participating in the joint venture, as well as the Chair of Automotive Engineering at TU Munich.
MTC’s work will include the digital integration of new insurance solutions directly into vehicles or automaker ecosystems. It will examine “how effective use of real-time vehicle and driving data can be shaped,” says Crede.
The MTC will analyze driver assistance systems and their performance in crash scenarios, giving partners a risk assessment that can be used to encourage customers to purchase such systems for their vehicles.
“Autonomous driving in particular calls for new business models and new insurance solutions, which we will be able to design thanks to the infrastructure available at the MTC”, says Christian Wagner, CEO and co-founder of in-tech, the one of the partners. in the business.