Smart vehicle underwriting – making our roads safer and the insurance industry more efficient

Each year, 1.35 million lives¹are lost in road accidents worldwide. Given the statistics, car makers have been investing heavily in safety technologies to reduce the number and severity of car accidents. However, up until now these safety technologies, and their positive impact on road safety have (still) not been adequately considered by the insurance industry.

Swiss Re identified three main challenges that serve as barriers:

• It is difficult for insurers to know exactly which safety-related systems are installed in a vehicle, and it is very complex to access detailed data for those systems on all brands.
• Insurers would need to carry out a detailed assessment of the effectiveness of these systems and their impact on insurance metrics.
• Insurers don't know if the policyholder uses these systems and how and in which circumstances he does so.

Tune in for Swiss Re's presentation where the company will reveal how it is addressing these challenges and the technology that is helping them do so.

_{1Source:World Health Organization (WHO). Global Status Report on Road Safety 2018. December 2018.}