Munich Re logo
Not if, but how

Explore Munich Re Group

Get to know our Group companies, branches and subsidiaries worldwide.

Electric vehicles
© boonchai wedmakawand / Getty Images

Electric Vehicles

The next level of mobility

    alt txt



    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.  

    Electric Vehicles – the way ahead: download PDF

    What's in it for you?

    • Market overview
    • Electric Vehicle insurance insights from global markets
    • Munich Re solutions: strategy & advisory, pricing and claims
    • Electric Vehicle Analytics

    Download the PDF after providing your contact information.
    Please note that we will contact you once to ask for your consent for further communication according to our privacy policy.    

    Visual Gated Content Bildschirm
    Please enter a valid value.
    Please enter a valid value.
    Please enter a valid value.
    Please enter a valid value.
    Please enter a valid value.
    Thank you for your message. Your message has been sent to our electric vehicle team.
    Something went wrong. Please try again!
    Get in touch with us
    Massimo Cavadini
    Massimo Cavadini
    Senior Executive Partner / Global Leader of Insurance Solutions
    Massimo is Senior Executive Partner and Global Practice Leader of Insurance Solutions within Global Consulting. Massimo has more than 10 years of experience in P&C insurance with a strong focus on insurance pricing & underwriting. Since he joined Munich Re in 2017, Massimo helped clients globally in improving their technical performance by using advanced analytics, in launching motor and property products and in expanding into new markets. Before joining Munich Re, Massimo was a senior pricing analyst in the Global P&C of Generali Group and pricing analyst in the Global P&C of Allianz Group, where he managed technical excellence projects in Europe, Asia and Latam. By training Massimo is a physicist and holds a PhD in Astrophysics.
    Damiano Massimi
    Damiano Massimi
    Senior Engagement Manager / Insurance Solutions
    Damiano is a Senior Engagement Manager with Global Consulting Unit based in Bogotá, Colombia. During his ten years in the insurance industry, Damiano participated in and led projects worldwide, focusing mainly on retail business. Currently, he is leading GCU’s expansion in Latin America and the Electric Vehicles topic. Damiano is contributing to Pricing & Underwriting Committees, webinars, conferences and papers.
    Norbert Hackner
    Norbert Hackner
    Senior Engagement Manager / Insurance Solutions
    Norbert is a Senior Engagement Manager, based in Munich. With 12 years in the Automotive industry, he's gained valuable experience in strategic consultancy, primary insurance, and OEM business models. Norbert now focuses on business development for global clients, ensuring profitability and growth. His expertise lies in delivering advisory services for new electric vehicle insurance solutions, steering motor extended warranty programs worldwide, and creating innovative business models for primary insurers in the new mobility and OEMs sector.
    Thibault Imbert
    Thibault Imbert
    Senior Engagement Manager / Insurance Solutions
    Thibault is a Senior Engagement Manager with Global Consulting Unit based in Singapore. Thibault has more than ten years of professional experience in the insurance industry, working mainly in the European and Asian markets. His core expertise is in Property & Casualty insurance, with a focus on pricing and product development. Thibault regularly contributes to webinars, conferences and papers, sharing insights on technical and/or emerging topics.