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Swiss Re Electric Vehicle (EV) Risk Score

Swiss Re
Product & Service Innovation

Elevator pitch

Avoid slow learning – accurately assess EV risk before the first claim

Innovation Presentation

International and national policy measures to reduce carbon emissions, increasing environmental consciousness of consumers, as well as steady technological improvements are seen to be contributing to an accelerated transition to electric vehicles (EVs): according to the Paris-based International Energy Agency (IEA), more than one in four car sales worldwide is expected to be an electric vehicle by 2030.

The presence of EVs on the roads poses new challenges to insurers: in absence of claims experience and with EV technologies developing quickly, conventional risk models fall short of reflecting differences in risk between ICE vehicles and modern EVs, thus diminishing insurers capabilities to accurately price EVs.

Electric vehicles ar…

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