Swiss Re co-develops telematics solution

Swiss Re and global car electronics company Pioneer have co-developed an telematics solution that provides insurers with better and more personalised risk assessment, while supporting safer driving behaviour.

The combined solution will be integrated in Swiss Re’s Coloride app and is set to be launched globally early next year.

Swiss Re’s Coloride assigns a risk score to each driver that an insurer can use to calculate the usage-based insurance premium. By offering a financial incentive to cautious drivers and flagging risky behaviour, insurers can encourage responsible driving, making roads safer for everyone.

With the new solution, Coloride will provide real-time driver warnings based on Pioneer’s map data and ADAS algorithms. These warnings help drivers to avoid accidents.

Road traffic accidents kill 1.2 million people every year, costing economies between one and three percent of their gross national product, according to estimates of the World Health Organisation (WHO).