The Apollo Group designed an insurance solution for Europe and Oxbotica implemented it.
Insurance company, Apollo Group, has developed a unique insurance solution for Europe’s first autonomous road trip without on-board personnel on the public road, operated by start-up Oxbotica was implemented. The company Oxbotica is also testing autonomous driving in Germany, but the insurance is not yet valid here.
It is the first insurance solution of its kind and applies to the UK, where Oxbotica is based. The insurance is specifically tailored to address the new and evolving risks associated with Level 4 autonomous driving. The insurance program was prepared by Apollo ibott through its Managing General Agent (MGA) in association with UK insurance company Aioi Nissay Dowa Europe and arranged by re/insurance broker Marsh.
This means that the electric vehicle from Oxbotica in Oxford will be operated without safety drivers and represents a milestone on the way to commercializing autonomous driving. Through cooperation with partners such as IF or NEVS, the technology will enable autonomous e-shuttles.
Another project of this type was launched in autumn 2021 between baidu and the reinsurer Swiss Re decided, which also dealt with insurance and risk management for autonomous driving.