Feasible and insurable in the medium-term – this was
Munich Re’s assessment of the new technology that transports people and goods in capsules at high speeds using electromagnetic propulsion.
The German risk carrier released the opinion in its first
Hyperloop Transportation Technologies (HTT)
Risk Report after a comprehensive analysis of the risks and challenges faced by HTT’s Hyperloop technology.
The risk report outlined enterprise and technological risks as well as relevant external and internal influencing variables not only for HTT’s Hyperloop technology, but also for the transportation and technology company itself.
The two firms are planning to further their cooperation in a strategic partnership that primarily aims to develop an insurance concept and integrate an enterprise risk management system that will enable HTT to actively manage enterprise risks.
“The technology developed by HTT is set to fundamentally change the way we travel in future,” said Torsten Jeworrek, member of the Munich Re board of management. “Such technological shifts give rise to new insurance needs that demand innovative solutions – which our Hyperloop team is happy to develop.”
Dirk Ahlborn, CEO and co-founder of HTT, also commented on the forward-looking partnership, which he said faces its biggest challenge in creating a new regulative framework before the technology hits the market.
“Being able to offer an insurable system is a huge milestone for this groundbreaking technology,” Ahlborn said. “With Munich Re, we are able to discuss our specific enterprise and technological risks openly. We look forward to continuing to work together and are delighted to have found an innovative partner in Munich Re that takes a constructive and cooperative approach to our very specific needs, thus making a valuable contribution to the successful economic development of our company.”
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