Insurance software developer REIN has received an investment from Volvo Financial Services to help deploy new products for the commercial transport industry.
The investment was made through the newly created entity VFS Innovation Ventures. REIN and Volvo will explore customized data-driven solutions which increase safety and improve overall insurance experience for Volvo customers.
By working together, the companies will launch its product into the US during the first half of 2020.
REIN is an insurance software developer which supplies carriers with data-driven ecosystems which can support analytics, product management, customer management and ecosystem management.
Volvo Group EVP Scott Rafkin said, “We recognize that new financial technologies are changing our customers’ priorities and presenting opportunities to improve performance.
“REIN’s data-focused approach aligns with our commitment to adopting new solutions that reduce total cost of ownership and support driver safety. VFS’ strategic partnership with REIN enables us to co-create the next generation of financial service solutions.”
Earlier in the year, REIN was listed in this year’s InsurTech 100 list.
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