BMW Group and Swiss Re rise ground-breaking automobile word concept

Posted on 15. Sep, 2018 by in BMW Canada

Munich. The BMW Group and Swiss Re, one of the
world’s largest reinsurance companies, are operative together to develop
a vehicle-specific word rating that primary insurers worldwide
can use to calculate automobile word premiums: The innovative assessment
complement takes formation of safety-relevant motorist assistance systems
into account.


The automotive zone is in a duration of transition. On a highway to
unconstrained driving, some-more and some-more safety-relevant motorist assistance
systems are anticipating their approach into BMW Group vehicles. In some cases,
these actively meddle in car control and boost vehicle
safety. However, safety-relevant motorist assistance systems are
now usually deliberate to a singular border in calculating insurance
premiums. Auto word ratings are generally formed on criteria such
as a driver’s age or a vehicle’s horsepower. This will now open up
new possibilities for business and primary insurers.


With a BMW Group’s technical imagination and Swiss Re’s imagination as a
reinsurer, an algorithm has been grown that is able of
representing a formidable effects of motorist assistance systems on the
reserve of BMW vehicles as a score. This measure facilitates calculation
of an particular vehicle-specific word premium.


“At a BMW Group, we are always focused on a customer. For this
reason, we have grown a solution, together with Swiss Re, that
will capacitate primary insurers to calculate premiums formed on an
particular comment of a vehicle’s technical features,” explains
Thomas Wittig, conduct of BMW Group Financial Services. “Our customers
will advantage twice: from a combined reserve and preference of
intelligent assistance systems and from a probable rebate in their
word payments.”


Moses Ojeisekhoba, Chief Executive Officer Reinsurance, Swiss Re:
“The automotive landscape is changing and we during Swiss Re wish to drive
creation in a engine word sector. We are gay that the
BMW Group has selected to be a partner. To ceaselessly consider all
particular OEM’s reserve comforts and their outcome on accident
frequencies and severities is formidable and fatiguing for insurers.
By mixing a strengths, we have jointly grown a ADAS Risk
Score, that will support in a risk comment of increasingly
programmed vehicles and assistance a clients rise their product suite.”



If we have any questions. greatfully contact:


BMW Group Corporate Communications


Renate Heim

Business and Finance Communications

Telephone: +49 89 382 21615



Glenn Schmidt

Head of Business and Finance Communications

Telephone: +49 89 382 24544





The BMW Group


With a 4 brands BMW, MINI, Rolls-Royce and BMW Motorrad, a BMW
Group is a world’s heading reward manufacturer of automobiles and
motorcycles and also provides reward financial and mobility services.
The BMW Group prolongation network comprises 30 prolongation and assembly
comforts in 14 countries; a association has a tellurian sales network in
some-more than 140 countries.

In 2017, a BMW Group sole over 2,463,500 newcomer vehicles and
some-more than 164,000 motorcycles worldwide. The distinction before taxation in the
financial year 2017 was € 10.655 billion on revenues amounting to
€ 98.678 billion. As of 31 Dec 2017, a BMW Group had a
workforce of 129,932 employees.

The success of a BMW Group has always been formed on long-term
meditative and obliged action. The association has therefore established
ecological and amicable sustainability via a value chain,
extensive product shortcoming and a transparent joining to
conserving resources as an constituent partial of a strategy.






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