Baloise is bringing an innovative new insurance product for fleets to the market. On top of the essential elements, i.e. motor vehicle liability insurance, comprehensive insurance and passenger accident insurance, ‘BaloiseFleet Motor Vehicle’ offers companies a wide range of bolt-on options for enhanced protection for their company vehicles.
Add-ons that are currently unique in the market include insurance cover based on the replacement value and the option to insure not only lights but also assistance systems and the vehicle interior against damage. The repair or replacement of ADAS systems can be expensive and in many cases fleet vehicles cannot be used safely without them.
Baloise’s motor vehicle fleet insurance enables companies to insure their entire vehicle fleet at its replacement value. In the event of a total loss, the full purchase price will be paid up to the seventh year of operation of a vehicle. Innovative add-ons can be selected to complement the insurance cover.
For example, businesses can include the lights and assistance systems of company vehicles in the policy cover. This encompasses damage to the headlights, rear lights, indicators, authorised beacon lights, wing mirrors and sensors that are part of assistance systems.
‘Motor vehicle equipment is constantly evolving and the amount of electronic applications that vehicles are being fitted with is growing steadily. This means that damage and loss scenarios are changing too, and we need to reflect this in our insurance solutions in order to ensure that we continue to fully satisfy the needs of our customers. ‘BaloiseFleet Motor Vehicle’ is a modular product that can be used to insure an entire vehicle fleet in a manner that is tailored to individual needs and requires only one contract,’ explains Giuseppe Nibali, Head Mobility Switzerland at Baloise.
Swiss based Baloise was a winner in this year’s Efma-Accenture Innovation in Insurance Awards, securing first place in the category ‘Product & Service Innovation’ and second place in the category ‘Connected Insurance & Ecosystems.