Swiss Re teams up with auto InsurTech Jooycar in Mexico


Swiss Re has partnered with InsurTech Jooycar in a bid to boost auto insurance telematics to benefit small and medium-sized fleets in Mexico.

Jooycar has positioned itself as the leading auto InsurTech in Latin America.

Both companies seek to drive the design of optimized fleet auto insurance through telematics.

The focus of this alliance, according to Jooycar, is based on the InsurTech’s entrance into the Mexican market by offering its fleet management service. Jooycar said the service, “Fleetr by Jooycar”, has been a great success in its first year of operations in the US and currently boasts over 6 thousand cars connected.

Additionally, Swiss Re aims to support the Mexican insurance market to better understand the fleet segment, taking advantage of its experience in risk modelling and its telematics data analysis capacity.

Through real-time telematics data, together with the adoption of good driving habits, fleet owners could reduce their operating expenses, Jooycar said.

Further, they could also save on their insurance and achieve greater efficiency and safety, access the best insurance for their fleets through a Mexican insurance company with the support and actuarial analysis of one of the largest reinsurers in the world, the InsurTech added.

Joe DiMartino, head of Insurance of Jooycar, said, “This alliance enhances the knowledge and experience of both companies in the field of their field, creating a great disruption in the sale of commercial insurance. We believe that it reflects the most successful collaboration formula between insurtechs and large reinsurance companies. Allowing the evolution of the insurance value offer in the world, where we go from identifying and repairing risk to predicting and preventing it, relying on IoT technology and strong support and world-class actuarial know-how.”

Earlir this year, YouSet, a startup which has optimised the process of buying and comparing home and auto insurance, raised $2.1m in an oversubscribed pre-seed round.

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