Auto insurance

Swiss Re partners with insurtech Jooycar to boost car insurance telematics

Global reinsurance giant Swiss Re has entered into an alliance with Latin American car insurance technology Jooycar to boost car insurance telematics for the benefit of small and medium commercial fleets in Mexico.

The insurtech will offer its fleet management service, “Fleetr by Jooycar”, to the Mexican market, which it says has been a success in its first year of operation in the United States, with more than 6,000 connected cars .

Swiss Re aims to help the Mexican insurance market better understand the fleet segment, leveraging its experience in risk modeling and its ability to analyze telematics data.

Francisco Díaz, Head of Mexico and Central America Reinsurance at Swiss Re, said: “The mobility landscape is changing, particularly due to the emergence of new technologies. Insurance must adapt to these changes, through innovative global and integrated solutions, to face new mobility trends.

“Our alliance with Jooycar aims to enable the use of telematics data in the insurance market to understand risks and bring more added value to the end customer.”

Stratumn, by SIA Partners

Jooycar adds that thanks to real-time telematics data, combined with the adoption of good driving habits, fleet owners could reduce operating expenses, save on insurance and gain efficiency and safety, in order to access to the best insurance for their fleets.

Joe DiMartino, Head of Insurance at Jooycar, said, “This alliance enhances the knowledge and experience of both companies in their area of ​​expertise, creating a major disruption in the sale of commercial insurance. We believe it reflects the most successful collaboration formula between insurtechs and large reinsurance companies.

“Enable the evolution of insurance value delivery globally, where we move from identifying and repairing risk to predicting and preventing it, leveraging IoT technology, strong support and world-class actuarial know-how.”

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