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Daimler, Swiss Re Launch Mobility Insurance Venture | Investing News

Daimler, Swiss Re Launch Mobility Insurance Venture | Investing News

FRANKFURT (Reuters) – Swiss Re

and carmaker Daimler

announced a joint automotive and mobility insurance venture on Monday, seeking to tap into a wealth of new data generated by highly automated vehicles to help insurers to calculate risk.

The reinsurer and Daimler, parent of the Mercedes-Benz passenger car brand, set up Movinx, a Berlin-based intermediary they will co-own equally, the companies said in a statement.

As connected and autonomous cars generate live data about traffic flows, vehicle reflexes and driver behaviour, the companies expect new opportunities will arise to customise automotive and mobility insurance products.

“Even before cars come off the manufacturing line, we know the specific features and how that car would react in an emergency situation and we can provide a score to insurance partners to better underwrite the risk,” said Pravina Ladva, Swiss Re’s digital transformation officer.

Swiss Re already offers to price risk by looking at the number of advanced driver assistance systems (ADAS) fitted to a car, calculating a car’s capability under various traffic conditions considering safety as well as the cost of repairs.

Daimler, which has spent decades refining advanced driver assistance systems, sees an opportunity for monetizing its know-how about vehicle safety.

Ingo Telschow, chief executive of Daimler Insurance Services, said his company was “going deeper into the value chain of insurance business, having more influence on product development and pricing.”

Aside from technological advances in the area of automated and connected vehicles, customer behaviour is also shifting from long-term ownership to short-term usage, creating new insurance challenges in the area of pricing and claims handling.

Movinx will position itself as a so-called Managing General Agent (MGA) to help insurers introduce new products across a range of currently fragmented markets, using a new jointly owned risk technology platform.

The first insurance products and

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Using electric planes and UAVs, this startup wants to redefine urban mobility in India

Using electric planes and UAVs, this startup wants to redefine urban mobility in India

Increasing population, encroachments, traffic problems, and infrastructure problems are major concerns for Indian roadways. In a bid to solve issues related to inadequate road infrastructure, Chennai-based The ePlane Company is looking to take the aerial route.

Ubifly Technologies Private Limited, better known as The ePlane Company (TEC), was founded in 2016 by Pranjal Mehta and Satyanarayanan Chakravarthy to provide aerial delivery services. The startup ideated out from the National Centre for Combustion Research & Development Lab (NCCRD).

TEC EKHanz

TEC designed Ek Hanz to deliver payloads up to six kg, developed especially to deliver goods and packages. [ Image Credit: The ePlane Company]

Speaking with YourStory, Satyanarayanan, Co-founder and CTO, explains that the startup is building electric planes and unmanned aerial vehicles (UAV) for short-range intracity travels and is aimed at redefining urban mobility.

He adds that the products developed by the startup are unique in nature because they are a hybrid mix of drone and electric aeroplane technology.

Satyanarayanan has been teaching Aerospace Engineering at IIT Madras since 1998. He is also the head of the National Centre for Combustion Research & Development Lab (NCCRD) and the Centre of Propulsion Technology at IIT Madras.

His study on propulsion was one of the reasons that led to the launch of TEC. On the other hand, Pranjal, an alumnus of IIT Madras, was previously involved in building short distance daily flying vehicles.

“Electric cars are now more expensive than traditional combustive vehicles and the major reason for this is the cost of the battery. Users expect similar mileage from both the vehicles and thus, EV cars need to pack up batteries to match the mileage of an ICE car, thereby increasing the cost of the vehicles. However, that will not be the case for aeroplanes as it is not

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This May Be What Real Electric Urban Air Mobility Looks Like At First. It’s Both Familiar And A Little Weird.

This May Be What Real Electric Urban Air Mobility Looks Like At First. It’s Both Familiar And A Little Weird.

Almost all of the hundreds of urban air mobility startups currently active around the world are pitching radical electric vertical takeoff and landing aircraft for a “revolutionary” transportation future.

Their unconventional multi-rotor designs require time-consuming testing, decade-long paths to certification, and the buildout of a ground and air infrastructure to support them. Investors are spending, and will have to spend, billions just to see if their business plans will work.

Palm Springs, California-based Eco Helicopters thinks there’s another route to eVTOL UAM. It’s vastly cheaper, developed by someone else, possible on a far shorter timeline, and looks pretty familiar.

Eco Helicopters is seeking to bring what it calls the “EcoMax”, an electrified version of the ubiquitous Robinson R44 light helicopter, to the market, combining operational aspects of traditional helicopter air taxi services with the on-demand surface transport model pioneered by Uber
UBER
and others.

Basically, that means pairing an on-demand app with an electric helicopter. Eco Helicopters plans to launch its on-demand UAM service with a conventionally-powered R44 in the second quarter of 2021, while the certification process for the EcoMax goes forward.

The company is owned by Richard Webb, who is also the owner of its parent, Orange County Helicopters, which arranged the helicopter flight last January on which NBA legend Kobe Bryant, his daughter and seven others were killed.

If all goes according to plan, the company will begin operating the electric R44 following FAA approval for a supplemental type certificate (STC) for the helicopter. That could be in 18 to 24 months. The relatively

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