We’re collaborating with Swiss Re in order to accelerate this process and give consumers the economic credit they deserve.” Just as the introduction of electric vehicles has reduced the cost of energy to the consumer, Luminar-equipped cars can reduce the cost of insurance. “The objective of this testing is to validate accident prevention capabilities that we expect will substantially reduce insurance claims, which has the opportunity to lead to substantial reduction in cost of insurance for consumers that drive Luminar-equipped vehicles.”Īdded Luminar founder and CEO Austin Russell: “Reduction in accidents and lives saved with Luminar-equipped vehicles will naturally drive lower cost of car insurance and savings to consumers. “Saving lives is our primary goal and we can democratize our technology to help more people by establishing a lower total cost of ownership of their vehicles,” the release states. The research will be the first step in the partnership and will cover the impacts on the automotive industry and a new insurance program Luminar plans to offer, according to a joint news release. Global automotive technology company, Luminar, and reinsurance provider, Swiss Re, have announced a new exclusive partnership that will look at the on-road performance and safety improvements of consumer and commercial vehicles equipped with Luminar’s lidar and proactive safety technologies.
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