Global reinsurance giant Swiss Re has partnered with Latin American auto insurer Joycar to power auto insurance telematics for small and medium-sized businesses in Mexico.
InsurTech will bring its fleet management service “Fleetr by Jooycar” to the Mexican market. It said it was successful in its first year of operation in the United States, with more than 6,000 vehicles connected.
Swiss Re aims to leverage its risk modeling experience and telematics data analytics capabilities to support the Mexican insurance market to better understand its fleet segment.
Francisco Diaz, Head of Reinsurance in Mexico and Central America, Swiss Re, said: Insurance must adapt to these changes and meet new mobility trends through comprehensive, integrated and innovative solutions.
“Our partnership with Jooycar aims to enable the insurance market to use telematics data to understand risks and provide more added value to the end customer.”
Joycar says that by adopting real-time telematics data and good driving habits, fleet owners can reduce operating costs, save on insurance premiums, improve efficiency and safety, and access the best insurance for their fleets. I am adding.
Joe DiMartino, Jooycar’s Chief Insurance Officer, commented: We believe this reflects the most successful form of collaboration between InsurTechs and large reinsurers.
“We rely on IoT technology and strong support, as well as world-class actuarial know-how, to advance insurance value delivery globally, from risk identification and remediation to prediction and prevention.”