Tesla is hiring for a Program Manager in the insurance and underwriting field in the UK. The job location is in London and is a full-time position. That seems to indicate something that will make Tesla owners and future owners quite happy.
It appeals that Tesla wants to develop motor insurance products for customers in the UK and plans to enhance their ownership while lowering the cost of ownership just as it has done in California.
“The Program Manager, Product & Underwriting (UK) will work alongside our pricing, data science and engineering teams to rethink how a motor insurance product is best designed with the customer in mind first.”
One of the key responsibilities that Tesla wants this future new employee to do is forget the standard products that the market has offered for centuries. Tesla wants to develop auto insurance that is worthy of the 21st century and made just for Tesla owners — the company wants its insurance to represent it fully.
The insurance products that Tesla brings to market will fully cover the customer using Tesla’s Full Self Driving (FSD) feature. The Program Manager, Product & Underwriting (UK) will also draft and review policy wording and ensure full compliance with all legal and regulatory requirements. Yet another signature of the company, Tesla notes that a policy should be written in a language that is easy for the average customer to understand.
Tesla also wants to develop a framework of underwriting rules and technical processes that focus on the principles of Treating Customers Fairly while being easy — think one-click insurance solutions. Once these products are developed and brought to market, Tesla doesn’t want to stop there: “even the smallest improvement is ready to enhance our customer’s protection, experience or decrease premiums.”
The last major thing this new role will require is building a robust monitoring system for market research and product benchmarking efforts all across the UK.
What about Tesla Insurance in the US?
Just last year, Tesla launched its insurance in California. While Warren Buffet criticized this branching out and said that Tesla would struggle, it seems that Tesla knows what it’s doing. This is because Tesla is laser-focused on the needs of its customers.
So far, California is the only state with Tesla Insurance. Now that Tesla is hiring in the UK for a position in the field of insurance, it is safe to say that Tesla has a game plan for the UK. For the US, Tesla could be ready to roll out insurance across the rest of the states as well. Or maybe not. Perhaps the UK isn’t as confusing with legalities as the US is. Or perhaps the UK faces bigger auto insurance challenges for Tesla owners. Here in the US, each state has their own legal way of doing things, as well as the federal regulations all must abide by. I’m not sure how governments operate in the UK, but there have been complaints about insurance there, including regarding Autopilot.
Either way, Tesla is poised for success. Insurance is just one of many streams of recurring revenue that Tesla has secured from its customers. One thing for sure is that we will be eyeing the UK for more news regarding Tesla insurance — and hopefully, by the time it does launch there, it will have already launched in the rest of the states.
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