PRINCETON, N.J.--(BUSINESS WIRE)--Munich Reinsurance America, Inc. has joined the University of Michigan’s Mobility Transformation Center (MTC) Affiliates Program —part of a major research partnership of industry, government, and academia that is laying the foundation for a commercially viable system of connected and automated vehicles. The Affiliates Program has 27 initial members from a wide range of industries.
“We are excited to be a part of this initiative, as we believe there are enormous potential benefits for consumers and business from the autonomous and connected vehicle technologies that are being researched and tested through the MTC,” said Tony Kuczinski, President and CEO of Munich Re America. “These vehicle technologies have the potential to save lives, reduce accidents, provide fuel economies, and improve road efficiencies. Munich Re America is partnering with our clients, industry, government agencies, and research organizations like the University of Michigan, not just to understand and manage this technology, but to find and embrace the societal and business opportunities that certainly will arise with it.”
“Connected and automated vehicles hold the potential to dramatically improve the safety, sustainability, and accessibility of our mobility system,” said Dr. Peter Sweatman, Director of MTC. “Through this consortium arrangement, we seek to engage the range of cutting-edge technology suppliers, thought leaders, and entrepreneurs required to inform and drive progress toward that transformative vision.”
The Affiliates represent a broad range of sectors that will play a role in shaping a viable system of connected and automated vehicles, including automotive manufacturing, vehicle communication devices, chips and hardware, and insurance, as well as companies engaged in such technologies as advanced modelling, big data acquisition, and intelligent transportation systems.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2014, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.2bn on premium income of over €48bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €27bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in the ERGO Insurance Group, one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2014, ERGO posted premium income of €18bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments amounting to €227bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.