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Electric vehicles
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Electric Vehicles

The next level of mobility

Global Consulting provides solutions for insurance in the e-mobility landscape

In recent years, e-mobility has achieved a breakthrough in many markets around the world. The question is no longer if electric vehicles are coming and will replace traditional powertrains, but rather how they are coming and when they will take over the largest share of the global powertrain mix.

Impact on the insurance industry

The challenge for insurance is to identify new risks concerning the vehicle itself and potential new driving behaviours, despite insufficient EV data. Our unique EV approach is tailored to all market maturities and all levels of pricing sophistication. 
Electric Vehicles Adoption
© Munich Re

Global Consulting has developed an end-to-end Electric Vehicles primary insurance proposition which covers:

Starting a new book or turning around a loss-making book is always challenging. Especially when risks are unknown and/or there is no data available to assess them properly. Also designing or revamping a product needs sound domain knowledge to make sure that the appropriate coverages are offered to your customers.

If you want to (re)start underwriting EV, we can assist you in defining or adapting your strategy and setting up products according to market standards. We can support you with integrating new underwriting rules, checking deductibles, and sublimits, by leveraging our global EV experience coupled with a sound local market know-how.

A good risk evaluation finds its foundation in data. Leveraging Munich Re-exposure and advanced ML techniques, we have performed a sound statistical analysis that enables the identification and classification of EVs according to their similarities.

We validated the assumption that similar vehicles share a similar risk level, which translates into an easier assessment of (new) vehicles.

From preliminary risk assessment to a re-evaluation of the existing book, EVA will allow you to better estimate the risk, define your risk appetite, and underwrite new risks with more confidence.

With growing exposure, also the models’ confidence increases. More data points enable a proper prediction of the expected claims cost. The relevant rating factors are identified through advanced modelling techniques.

No matter if you wish to reduce anti-selection in your portfolio or optimise your profitability, if you want to identify pruning segments or perform a discount analysis to understand how balanced your portfolio is, we can support you on the journey to pricing sophistication, relying on state-of-the-art experience and technology. 

Get in touch with us
Massimo Cavadini
Massimo Cavadini
Senior Executive Partner / Global Leader of Insurance Solutions
Damiano Massimi
Damiano Massimi
Engagement Manager
Insurance Solutions
Norbert Hackner
Norbert Hackner
Senior Engagement Manager
Insurance Solutions
Thibault Imbert
Thibault Imbert
Senior Engagement Manager
Insurance Solutions