Jooycar and Swiss Re create a strategic alliance to boost auto insurance telematics in Mexico
The deal will benefit small and medium-sized commercial fleets in Latin America
With the aim to benefit small and medium-sized companies to acquire customized insurance products, Jooycar, the main Auto Insurtech in Latin America, joined a strategic alliance with Swiss Re, one of the largest reinsurers in the world. Both companies seek to drive the design of optimized fleet auto insurance through telematics.
The focus of this alliance is based on Jooycar's entrace in the Mexican market by offering its fleet management service, "Fleetr by Jooycar", which has been a great success in its first year of operations in the United States and currently with over 6 thousand cars connected.
Swiss Re aims to support the Mexican insurance market to better understand the fleet segment, taking advantage of its experience in risk modeling and its telematics data analysis capacity.
Through real-time telematics data, together with the adoption of good driving habits, fleet owners could reduce their operating expenses, save on their insurance, and achieve greater efficiency and safety, to access the best insurance for their fleets, through a Mexican insurance company, and with the support and actuarial analysis of one of the largest reinsurers in the world.
"The mobility landscape is changing, particularly due to the appearance of new technologies. Insurance must adapt to these changes, through comprehensive and integrated innovative solutions, to face new mobility trends" said Francisco Díaz, Head Reinsurance Mexico & Central America at Swiss Re. "Our alliance with Jooycar aims to enable the use of telematics data in the insurance market to understand risks and provide more added value to the end customer".
“This alliance enhances the knowledge and experience of both companies in the field of their expertise, creating a great disruption in the sale of commercial insurance. We believe that it reflects the most successful collaboration formula between insurtechs and large reinsurance companies. Allowing the evolution of the insurance value offer in the world, where we go from identifying and repairing risk to predicting and preventing it, relying on IoT technology and strong support and world-class actuarial know-how”, explained Joe DiMartino, Head of Insurance of Jooycar.