Friday, July 19, 2024
Friday, July 19, 2024
Home » Tesla Insurance set to launch in Europe

Tesla Insurance set to launch in Europe

by Travis Fox
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Tesla is making preparations for the launch of its insurance service in Europe, as the company seeks a legal counsel with expertise in insurance for the market. The automaker, who opened its European branch in Malta in December 2020, has yet to offer its services to European drivers, but has been expanding its insurance service in the United States.

Tesla has now posted a job opening for a legal counsel to lead its European insurance operations, with the position based at the company’s London headquarters. Tesla Insurance Ltd is described as a “full-stack in-house insurer” with a goal to “rethink the way our customers experience insurance and protect their Tesla products.”

Tesla Insurance Ltd, a full-stack in-house insurer, is rethinking the way our customers experience insurance, protect their Tesla products.

Tesla Insurance has an outstanding opportunity for a skilled legal counsel to build and lead the in-house legal function of the insurance company to guide through the legal and regulatory landscape of an insurer operating cross-border in Europe.

This is a full-time opportunity, to be based in our London HQ office.”

Tesla’s expansion of its insurance services to Europe has already started, with the company registering to move its European insurance operations to its London headquarters located at 109 Devonshire Road in March 2022.

Previously, Tesla had partnered with insurance companies in the UK and Europe to provide coverage for its drivers. However, the company has since launched its own in-house insurance program in the United States, which uses real-time driving data to determine rates in 12 states.

There is no official announcement yet on when Tesla’s insurance services will be launched in Europe. However, the recent job posting for a legal counsel position suggests that the automaker is preparing for the launch. CFO Zachary Kirkhorn hinted in early 2022 that Tesla could launch insurance in Europe by the end of the year, saying “We might be able to do that by the end of the year, starting to get work on Europe by the end of the year. We’ll have to see how we progress in the US.”

The move to Europe indicates Tesla’s ambition to expand its insurance services globally in an area that has raised a number of questions over who actually is liable if a self-driving car crashes?

Source : Insurance Business

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