Swiss Re and Baidu partner to boost innovation in autonomous driving
Swiss Re and Chinese technology giant Baidu have announced a partnership to advance risk management research and produce new insurance products for the autonomous driving ecosystem.
The partnership aims to face the challenges in the insurance industry driven by technological innovations, lack of data accessibility and an increasing variety of risks. Combining Baidu's technology solutions and data expertise of Swiss Re, the collaboration will work on insurance solutions for the entire value chain of autonomous driving.
The partnership's first product is the launch of an insurance solution for Apollo Valet Parking (AVP), an automated valet parking designed by Baidu Apollo. The future research programme will also include other automated driving products such as intelligent cockpits and robotaxi.
Collaboration with Baidu will help Swiss Re improve risk management expertise and innovation capabilities while enabling access to new risk pools. The goal is to hasten the transformation in autonomous driving and contribute to the development of the mobility ecosystem.