Zurich supports Rinspeed in developing new community platform to understand future mobility needs
Zurich - Zurich Financial Services Group (Zurich) today announced it will be collaborating with innovative Swiss car manufacturer Rinspeed on initiatives to develop a better understanding of how people will drive in the future and how this will change insurance needs.
As part of this co-operation, Zurich will support the development of “BamBoo”, a community platform about cars and driving. The BamBoo concept will be presented at the Geneva Motorshow in March. The platform will be available for use in vehicles with internet access and through smart phones.
Among its uses, BamBoo will help community members to carpool through existing social media networks. In addition, it will be possible to measure and monitor the carbon footprint of a car while driving, register important driving data before and during a loss event, or to locate a car using GPS or similar technology.
New environment-friendly technologies and materials are playing an increasingly important role in the construction of cars. In the future, it is likely that insurance coverage will focus less on mere horse power and more and more on built-in technologies. While new technologies open up a wide range of opportunities, at the same time new risks arise for which innovative insurance solutions are needed. Close cooperation between partners from the different industries is therefore vital during the product development stage.
The relationship with Rinspeed will allow Zurich to tap into a knowledge pool where experts from areas such as car manufacturing, IT, telematics and communications exchange ideas. Zurich will provide these partners with insurance and risk insights in return.
Tilman Hengevoss, Head of Customer Experience & Segment Marketing for Zurich’s General Insurance segment, says: “Zurich is looking ahead because we want to know how our customers will organize their mobility in the future. That’s why we are working with innovative companies such as Rinspeed that help us understand trends and how those could impact customer behavior.”
Frank M. Rinderknecht, founder and CEO of Rinspeed AG, says: “Zurich is an ideal partner for our BamBoo project due to its experience in insurance markets around the globe. It is not just crucial to have new ideas, but also to know the risks associated with them.”
Zurich Financial Services Group (Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies as well as multinational corporations. Zurich employs about 60,000 people serving customers in more than 170 countries. Founded in 1872, the Group is headquartered in Zurich, Switzerland. Zurich Financial Services Ltd (ZURN) is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt program (ZFSVY) which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
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