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Insurance Solutions for Electric Vehicles
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Insurance Solutions for Electric Vehicles

The Next Frontier of E-Mobility

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    We have global experience in setting up and revamping the EV insurance business

    Within the last 5 years, e-mobility climbed the leaderboards in many markets when it comes to analysing potential new risks in motor insurance. While originally a trend, it is now a global paradigm shift in the making: a couple of markets are having already clear EV Insurance guidelines, signed off by the local regulator, and other markets are just getting started. What is already clear is that regulators and insurers need to act to address risks properly market by market.

    Insurance Consulting is close to both worlds and supports clients worldwide to find solutions according to the market maturity level 

    How is our industry affected?

    The current and major challenges for insurance – identifying new risks concerning the e-vehicle itself, assessing the influences of different e-driving behaviours, and addressing the lack of specific EV data – will persist during the next years.

    Our unique approach is tailored to all market maturities and all levels of pricing sophistication to tackle these challenges from a global and local perspective.

    Insurance Consulting has developed an end-to-end EV primary insurance proposition which covers:

    Click the graphic below to find out more.
    Insurance Consulting identified global trends around product coverages, government incentives and insurance regulations and is supporting insurers worldwide to deal with new client needs and local circumstances.
    Regular market and competitor analyses are also fundamental to staying ahead of the curve.
    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 and local regulations.
    We can support you throughout the product development process by leveraging our global EV experience and 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 technical specifications.
    From preliminary risk assessment to a re-evaluation of the existing book, Electric Vehicle Analytics (EVA) will allow you to better estimate the risk, define your risk appetite, and underwrite new risks with more confidence.
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    © Munich Re
    Leveraging on growing EV exposure, we will then support you in identifying the relevant rating factors associated with EVs. No matter if you wish to reduce anti-selection in your portfolio, optimise your profitability, or perform a discount analysis to understand how balanced your portfolio is, we will enable you to win the pricing sophistication race.
    Repairment of EVs is still a field where primary insurers lack know-how and data. What is known is, that repair processes show substantial differences compared to non-EVs and also that there is a strong variance of labour time (and cost) for the same repair job within different OEMs. Primary insurers, therefore, need to proactively address these differences, implement optimal repair processes and engage with the relevant partners.
    Insurance Consulting delivers unique technical expertise in primary insurance claims, assisting you in developing a market-leading position for these new challenges and achieving EV claims operational excellence. 

    Electric Vehicles – the way ahead

    What's in it for you?

    • Global Electric Vehicle sales outlook
    • Electric Vehicle mega trends and implications for primary insurer
    • Electric Vehicle - Claims perspective
    • Munich Re set of Electric Vehicle solutions
    • New vehicle pricing

    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.  

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    Get in touch with us
    Massimo Cavadini
    Massimo Cavadini
    Senior Executive Partner
    Massimo is Senior Executive Partner within Insurance 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 / Co-Lead Electric Vehicle for Americas
    Damiano is a Senior Engagement Manager with Insurance 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 Insurance Consulting’s expansion in Latin America and co-leading the Electric Vehicles topic. Damiano is contributing to Pricing & Underwriting Committees, webinars, conferences, and papers.
    Norbert Hackner
    Norbert Hackner
    Senior Engagement Manager / Co-Lead Electric Vehicle for Europe and Middle East
    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
    Principal / Co-Lead Electric Vehicle for Asia-Pacific
    Thibault is a Senior Manager with Insurance 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.
    Elliott Sun
    Elliott Sun
    Senior Engagement Manager / Co-Lead Electric Vehicle for Greater China
    Working with Munich Re’s Client team and global expertise group, Elliott focuses on helping our primary insurance clients to build new products, optimize business portfolios, and improve efficiency and profitability of the business. He also leads the development of new solutions and service propositions in Greater China Region. Prior to joining Munich Re, Elliott spent more than 10 years at primary insurers and consulting firm in both China and UK (London), leading projects in product development, pricing, underwriting, portfolio management and risk management. Elliott is also a Fellow of Institute and Faculty of Actuaries, UK.

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