“By capturing tech advancements and their impacts on road safety we can deliver more accurate risk models, pricing competitiveness and risk knowledge for Luminar-equipped vehicles to our clients – insurance providers,” he said. Swiss Re CEO Russell Higginbotham said the company’s mission is “to make the world more resilient, so we’re delighted to partner with Luminar on a project that can make our roads safer.” The company says there will be substantial discounts provided to consumers who will see safety savings. market for Luminar-equipped vehicles in 2024. Luminar Insurance is slated to enter the U.S. Luminar’s upcoming insurance launch will be headed by Alex Tsetsenekos, whose team successfully led the creation and deployment of Tesla’s insurance program, the release states. We’re collaborating with Swiss Re in order to accelerate this process and give consumers the economic credit they deserve.” Just as the introduction of electric vehicles has reduced the cost of energy to the consumer, Luminar-equipped cars can reduce the cost of insurance. “The objective of this testing is to validate accident prevention capabilities that we expect will substantially reduce insurance claims, which has the opportunity to lead to substantial reduction in cost of insurance for consumers that drive Luminar-equipped vehicles.”Īdded Luminar founder and CEO Austin Russell: “Reduction in accidents and lives saved with Luminar-equipped vehicles will naturally drive lower cost of car insurance and savings to consumers. “Saving lives is our primary goal and we can democratize our technology to help more people by establishing a lower total cost of ownership of their vehicles,” the release states. The research will be the first step in the partnership and will cover the impacts on the automotive industry and a new insurance program Luminar plans to offer, according to a joint news release. Global automotive technology company, Luminar, and reinsurance provider, Swiss Re, have announced a new exclusive partnership that will look at the on-road performance and safety improvements of consumer and commercial vehicles equipped with Luminar’s lidar and proactive safety technologies.
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