In 2019, Tesla launched its proprietary insurance business in the United States. It has been expanding rapidly since its launch, and its proprietary insurance has expanded to Arizona and Ohio in October and December last year, which is also Tesla's expansion of its insurance business to cover five states
Tesla's self-operated insurance business, compared with traditional insurance products, Tesla's self-operated insurance biggest advantage is that he installs a safety scoring system in the car, according to this scoring system to charge the corresponding insurance premiums, if the system scores more than the average car owners can save 20%-40% of the premium!
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The highest scoring car owners can save 30%-60% of the premium, it is worth mentioning that on October 14, 2021, after a batch of three-fold, several "difficult births", Tesla finally officially launched a car insurance product based on "real-time driving behavior" in the United States, according to the electric vehicle industry website Site Electrek news, the current insurance is only available in Texas, USA
In addition, in the United States, the calculation of traditional vehicle premiums is related to the age, gender and type of vehicle driven by the owner, etc., but Tesla's self-operated insurance, this scoring system does not consider age and gender factors.
It should be noted that although Tesla has been expanding its insurance business to other regions non-stop since it was launched in Texas, tesla has launched its own insurance services in five states in the United States last year, but not the five states that have launched Tesla's insurance business use real-time driving data and Tesla's safety scoring system in premium calculations, such as Tesla, although tesla has previously launched its own insurance products in California, but it has not been allowed to open Tesla's safety score system.
Why? Because it is very difficult to launch a new type of insurance product in the US market, it needs to be promoted one by one according to the actual situation of each state, and then the owners who enter the North American market have raised questions about whether Tesla conducts corresponding monitoring of the driver throughout the process, which involves personal privacy issues, but traditional insurance is more on the three sides, not to touch the sensitive topic of privacy, so this is also one of the reasons why Tesla's self-operated insurance is difficult to quickly promote in various states.
Tesla ultimately hopes that before expanding the insurance products to other markets, it plans to begin to cancel the insurance and third-party companies to cooperate with underwriting, and for the first time through Tesla General Insurance Company, before the insurance products are perfected, to create a security scoring system!
Finally, the latest news on April 2, according to foreign media reports, Tesla in the recent update showed that Tesla has also officially opened the "safety scoring system" for car owners who insure Tesla self-operated car insurance in California, USA! This also means that Tesla Insurance has begun to self-underwrite in California
This safety scoring system will be evaluated according to the driving habits of car owners, and will have a basic safety score of "90 points" after the first launch, and when the owner's score is higher than this score, the premium will decrease every month.
The safety score will determine the owner's safety score based on the vehicle's collection of forward collision warnings, emergency braking, steering wheel turns, and the number of Autopilots, etc., and then decide how much the owner will pay each.
In short, the safer the owner of the car, the lower the premium, the more aggressive the driving, the higher the premium, the better the safe driving habits, and the lower the premium.
Tesla's next plan is to start selling car insurance in Oregon and Virginia, so when will Tesla's self-operated insurance be available in China? When will it become widespread in China?
Although Tesla established the insurance company of "Tesla Insurance Brokerage Co., Ltd." in August 2020, at this stage, the company is only registered in the domestic industry and commerce department and has not yet carried out various insurance businesses!
In fact, Tesla wants to carry out insurance business in various states in the United States will be a difficult task, some people have analyzed, because for whether it is reasonable privacy collection, whether it is reasonable data security, and what should be the allocation of responsibilities? Until there is no answer to these questions, it may not be able to achieve corresponding popularity even in the United States, and the probability of popularization in China in a short period of time may be even smaller!
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