Liberty Mutual Partners With REIN to Launch First Insurance

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BOSTON, Sept. 21, 2022 (GLOBE NEWSWIRE) — Liberty Specialty Markets (LSM), a number one international supplier of specialty and industrial insurance merchandise and a part of Liberty Mutual Insurance’s Global Risk Solutions division, as we speak introduced that it’s teaming up with REIN, developer of the IX platform for embedded merchandise, to present Sony Electronics with an insurance product to supply drone purchasers and operators an immediately accessible protection possibility.1

Sony, one of many world’s main know-how and manufacturing companies, introduced the Airpeak S1, the world’s smallest class drone that may be geared up with a full-size mirrorless interchangeable-lens Alpha digital camera2, in December 2021 to accommodate market development. With the rise in drone use comes the necessity to make sure that operators have ample and acceptable insurance protection. Having an insurance product supply gives added worth to Sony’s Airpeak S1, and offers added confidence to those that search to discover this fast-growing market.

“Our partnership with REIN enabled us to provide this unique solution for Sony’s Professional Drone Airpeak S1 and demonstrates how we develop tailored solutions to support the ever growing and evolving needs of our insureds. We look forward to expanding our partnership with REIN to bring more embedded insurance solutions to our partners and clients,” stated Lewis Edwards, Head of Delegated Authority Practice, Liberty Specialty Markets.

Insurance is shortly changing into a important instrument within the mobility trade’s evolution into extra bundled providers. It permits corporations to supply direct-to-customer insurance options on the level of sale.

“At REIN, our goal is to provide the technology necessary for carriers to be the partner companies trust for embedded insurance,” stated Jason Griswold, CEO and co-founder at REIN. “By leveraging REIN’s IX platform, Liberty can provide global brands such as Sony the ability to access digital insurance products designed to meet their customers where they are, when they need it. We are consistently impressed with the Liberty teams’ vision and commitment to being at the forefront of industry transformation and are thrilled to team up with Liberty to help their customers access comprehensive coverage options that are fundamental to growing the mobility industry.”

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The insurance providing for Sony’s Airpeak S1 Drone, powered by REIN, is accessible via https://electronics.sony.com/airpeak/insurance.

Enquiries:

Contacts :
Lorna Wiltshire 
External Communications Manager
+44 748 307 3244 
Lorna.Wiltshire@libertyglobalgroup.com 

Kuba Stawiski
Cicero/AMO
+44 785 603 1906
liberty@cicero-group.com

Notes to editors:
Liberty Specialty Markets gives specialty and industrial insurance and reinsurance merchandise throughout key UK, European, Middle East, US, Bermuda, Asia Pacific & Latin America markets. We present brokers and insureds with a broad product vary via each the Company and Lloyd’s markets and have over 2,000 workers in roughly 60 workplaces.

At Liberty Mutual, we imagine progress occurs when folks really feel safe. By offering safety for the surprising and delivering it with care, we assist folks and companies embrace as we speak and confidently pursue tomorrow. 

In business since 1912, and headquartered in Boston, as we speak we’re the sixth largest international property and casualty insurer primarily based on 2020 gross written premium. We additionally rank 78 on the Fortune 100 record of largest firms within the US primarily based on 2021 income. As of December 31, 2021, we had $48.2 billion in annual consolidated income. 

We make use of over 45,000 folks in 29 international locations and economies world wide. We supply a variety of insurance services and products, together with private automobile, householders, specialty traces, reinsurance, industrial multiple-peril, staff compensation, industrial automobile, basic legal responsibility, surety, and industrial property. 

For extra data, go to www.libertymutualinsurance.com

About Sony Electronics Inc.
Sony Electronics is a subsidiary of Sony Corporation of America and an affiliate of Sony Group Corporation, one of the vital complete leisure corporations on the earth, with a portfolio that encompasses electronics, music, movement footage, cell, gaming, robotics and monetary providers. Headquartered in San Diego, California, Sony Electronics is a frontrunner in electronics for the patron {and professional} markets. Operations embody analysis and growth, engineering, gross sales, advertising and marketing, distribution and customer support. Sony Electronics creates merchandise that innovate and encourage generations, such because the award-winning Alpha Interchangeable Lens Cameras and revolutionary high-resolution audio merchandise. Sony can also be a number one producer of end-to-end options from 4K skilled broadcast and A/V gear to trade main 4K and 8K Ultra HD TVs. Visit http://www.sony.com/news for extra data.

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About REIN
REIN is a know-how firm that transforms carriers’ insurance merchandise into digital choices obtainable on the Insurance Exchange (IX) and direct to choose corporations. IX is the place business clients and insurance brokers go to safe insurance choices to embed of their digital commerce environments. REIN exists to give carriers the know-how they want to be the accomplice corporations belief for embedded insurance.

Founded in 2015, REIN has workplaces in Chapel Hill, NC, Maynard, MA and Halifax, NS. REIN’s buyers embody Volvo Financial Services, Liberty Mutual Strategic Ventures, Sandbox Insurtech Ventures, Plug and Play Ventures, Delaware Life, Kiplin Capital and household workplace buyers. Learn extra about REIN at www.REIN.ai or comply with @REINinsurtech on Twitter.

  1. Operating a drone within the United States is topic to federal legislation and rules. State and native ordinances can also apply to sure operations. When working an plane, it’s the distant pilot/operator’s duty to at all times adjust to relevant legal guidelines, rules, and ordinances.
  2. Based on Sony analysis and testing, as of June 2021.

Media Contact for REIN: Jennifer Overhulse, St. Nick Media Services, jen@stnickmedia.com or 859-803-6597



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