Embodied Robots Now Come with Their Own Insurance, as Insurers Vie for a Slice of the Robotic Insurance Pie
4 day ago / Read about 0 minute
Author:小编   

The thriving robot leasing market has fueled a surge in demand for insurance coverage. Industry experts note that robot insurance, being a relatively new field, hinges on extensive data support to reach maturity. Restricting collaborations to a single company or insuring just one device at a time hampers the pace of data accumulation. By partnering with leasing platforms, insurers can secure policies in bulk, expediting the data collection process. This, in turn, lays a solid foundation for actuarial pricing and efficient settlement of risk claims, thereby spurring fresh growth in the robot insurance sector. Nevertheless, China's robot insurance industry is still in its nascent stages, grappling with challenges such as intricate risk assessments, inadequate product customization, complex liability determinations, and subpar risk management capabilities. Addressing these issues necessitates a collaborative effort from multiple stakeholders.