The significance of progress
Making roads safer: Increasing the adoption of advanced driver-assistance systems to enhance insurers’ risk models.
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According to the World Health Organization, ca. 1.4 million lives are lost and 50 million more injured in traffic accidents every year. While improving road safety depends on multiple aspects, such as vehicle technology, road infrastructure and driver education, the insurance industry can also contribute to this effort. It can encourage responsible driving behaviour and increased adoption of advanced driver-assistance systems (ADAS) by taking them into account in premium calculations.
Together with Veoneer Inc, an automotive technology company, we are bringing together knowledge and vast experience on road safety technologies to further enhance the assessment and development of ADAS technology and related services. Our combined knowledge – Swiss Re's ability to assess the safety of a vehicle through ADAS Risk Score, and Veoneer's ability to design increasingly refined ADAS technologies based on comprehensive real-world data analysis – will deliver insurers across the globe relevant insights and a comprehensive approach to risk modelling. This further enables their ability to assess swiftly the latest car safety technologies for insurance purposes. The partnership is set out to tackle various factors affecting ADAS benefits, with a strong commitment to reduce traffic accidents, save lives and strengthen road traffic risk-handling.
Both companies share a mutual interest in gaining the best possible insights into the real-world safety impact of a variety of ADAS to further improve and tailor system performance and accurately evaluate systems. The partnership will lead to a better understanding of the driving circumstances surrounding crashes, conflicting situations, and how set-ups of the current technology support the driver in specific scenarios.
To learn more, download our co-authored white paper "The significance of progress: Implications of the diversity and complexity of ADAS for road safety and the insurance landscape."