What:
Swiss Re has entered into a partnership with Baidu to provide risk management expertise and innovative insurance products for Baidu’s autonomous driving business.
Why:
Autonomous driving poses new challenges to the insurance industry, including rapid technological upgrades, increasingly diversified risks and limitation of data availability.
How:
- This partnership will develop insurance solutions covering the entire value chain of autonomous driving, including the selection of risk factors, product pricing, claims and underwriting data standards.
- Phase 1 includes a launch of autonomous valet parking insurance, the industry’s first ever insurance solution for Apollo Valet Parking – an automated valet parking product designed by Baidu Apollo.
- Phase 2 includes ongoing risk management research and insurance innovation for autonomous driving computing platforms, intelligent cockpits, robotaxi (driverless taxis) and other automated driving products.