“Reduction in accidents and lives saved with Luminar-equipped vehicles will naturally drive lower cost of car insurance and savings to consumers,” said Austin Russell, Founder and CEO, Luminar. This data collected and analyzed by Swiss Re will be distributed to Luminar as well as made available to Swiss Re’s clients that include major insurance providers across the globe. Swiss Re will collaborate exclusively with Luminar as part of this initiative. 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. 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 first step of the joint initiative is to analyze and quantify the on-road performance and safety improvements of consumer and commercial vehicles equipped with Luminar’s lidar and proactive safety technologies, for both the industry and Luminar’s new insurance program it plans to offer. ORLANDO, FLORIDA - Luminar (Nasdaq: LAZR), a leading global automotive technology company, and Swiss Re, one of the world’s leading providers of reinsurance, today announced a new exclusive partnership.
Top-Tier global reinsurer is exclusively partnering with Luminar to advance assisted driving and improve safety while reducing costs of consumer adoption
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