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The new partnership will allow primary insurers to offer preferential rates to owners of ADAS-equipped Toyota and Lexus cars.

25 Sep 2020 | Local News : Singapore

Toyota Insurance Services (TIS)/Toyota Insurance Management Europe and Swiss Re are partnering up to further develop the Swiss Re Advanced Driving Assistance Systems (ADAS) risk score.

TIS is the next partner after the BMW Group to join the ADAS risk score platform and will, as part of the partnership, make Toyota and Lexus vehicle data available for the purpose of insurance scoring.

The ADAS risk scores will give insurers a way to take relevant driver assistance systems into account when calculating insurance premiums
On the journey towards autonomous vehicles, cars are increasingly equipped with ADAS that actively support the driver in avoiding accidents. Insurers now face the challenge of knowing which ADAS features are installed in a vehicle, what their impact on safety is, and to what extent drivers use them.

The ADAS risk score was launched by Swiss Re and the BMW Group in 2019 with the aim of solving this issue and developing a vehicle-specific insurance rating that primary insurers worldwide can use to calculate insurance premiums, taking safety-relevant driver assistance systems into account.

Through the partnership with TIS, ADAS risk scores will become available for Toyota and Lexus vehicles, allowing for a better assessment of their safety performance. The rollout of these risk scores is planned to start in 2021 and will initially focus on European countries.

Swiss Re intends to integrate other major car brands into the ADAS platform, thereby creating an industry standard that benefits insurers in terms of healthier and better performing portfolios. It will also benefit car manufacturers by supporting sales of ADAS-equipped vehicles, while car owners will also benefit from a reduced total cost of ownership.

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