BYD inks embedded insurance deal with insurtech

Electric car manufacturer BYD has appointed insurtech Bolttech as its strategic partner for embedded insurance in Europe.

The partnership has already launched in the UK and will be made available in Italy, France, Germany and Spain this year.

As part of the deal, BYD customers will be offered tailored motor insurance packages for electric vehicles presented by a curated set of insurers.

The proposition will be available online and in dealerships, with coverage options available on the Bolttech platform during the vehicle purchase and finance process.

Stella Li, executive vice president at BYD, said: “We are excited to work with Bolttech as our insurtech partner in Europe, turning insights and data into tangible value for BYD customers.

”Through this partnership, customers will have easier access to motor insurance embedded seamlessly into their car purchase journey, ensuring they have comprehensive EV protection from the moment they drive their car home.”

Providing insights

As part of the deal, BYD and Bolttech will provide insurers with necessary access to safety insights and proprietary vehicle data, helping underwriters to better assess risk and develop more competitive products for the BYD ecosystem.

Rob Schimek, chief executive at Bolttech said, “We’re honoured to support BYD, the world’s leading EV company, in its bold mission to drive a more sustainable, technology-enabled future.

“Together, we’ll provide insurers with richer vehicle data and risk insights, enabling more accurate pricing and better insurance options for BYD drivers.”