Swiss Re: launches car insurance venture with Daimler
(CercleFinance.com) - German auto giant Daimler is forming a new company with Swiss Re, the world's second-largest reinsurer, to sell digital car insurance, the two companies said on Monday.
The 50/50 joint venture, called Movinx, is set to launch its first products in France in 2021, but further markets are planned across Europe, in the Americas, and in Asia in the coming years, Daimler and Swiss Re said.
The joint venture will also be open for co-operations with other partners, such as carmakers or service providers, as it will take into consideration the sector's latest trends, such as e-mobility and automated driving, or a business model that is now shifting from ownership to usage.
The venture's offices already opened in Berlin in October.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The 50/50 joint venture, called Movinx, is set to launch its first products in France in 2021, but further markets are planned across Europe, in the Americas, and in Asia in the coming years, Daimler and Swiss Re said.
The joint venture will also be open for co-operations with other partners, such as carmakers or service providers, as it will take into consideration the sector's latest trends, such as e-mobility and automated driving, or a business model that is now shifting from ownership to usage.
The venture's offices already opened in Berlin in October.
Copyright (c) 2020 CercleFinance.com. All rights reserved.