Liberty Specialty Markets partners with REIN to launch first insurance offering for Sony Electronics Inc

Lewis-Edwards,-Head-of-Delegated-Authority-Practice,-Liberty-Specialty-Markets

Authored by Liberty Specialty Markets

Liberty Specialty Markets (LSM), a leading global provider of specialty and commercial insurance products and part of Liberty Mutual Insurance’s Global Risk Solutions division, has announced that it is teaming up with REIN, developer of the IX platform for embedded products, to provide Sony Electronics with an insurance product to offer drone purchasers and operators an instantly accessible coverage option.

Sony, one of the world’s leading technology and manufacturing businesses, announced the Airpeak S1, the world’s smallest class drone that can be equipped with a full-size mirrorless interchangeable-lens Alpha camera, in December 2021 to accommodate market growth. With the increase in drone use comes the need to ensure that operators have sufficient and appropriate insurance coverage. Having an insurance product offer provides added value to Sony’s Airpeak S1, and gives added confidence to those who seek to explore 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,” said Lewis Edwards, Head of Delegated Authority Practice, Liberty Specialty Markets.

Insurance is quickly becoming a critical tool in the mobility industry’s evolution into more bundled services. It allows companies to offer direct-to-customer insurance solutions at the point of sale.

“At REIN, our goal is to provide the technology necessary for carriers to be the partner companies trust for embedded insurance,” said 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.”

The insurance offering for Sony’s Airpeak S1 Drone, powered by REIN, is available through https://electronics.sony.com/airpeak/insurance.

 

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About Liberty

Liberty Specialty Markets offers specialty and commercial insurance and reinsurance products across key UK, European, Middle East, US and other international locations.

We provide brokers and insureds with a broad range of products through both the Company and Lloyd’s markets and have over 1,700 staff in approximately 65 offices. Liberty Specialty Markets was established in September 2013 bringing together Liberty’s company, syndicate and reinsurance operations into one combined operation, composed of three business units: Commercial, Specialty, and Reinsurance (Liberty Mutual Re). This integrated approach means brokers and clients can benefit from our global reach and operating efficiencies.

Liberty Specialty Markets is part of global insurer, Liberty Mutual Insurance Group, a diversified global insurer, formed in 1912 and headquartered in Boston, Massachusetts. Liberty Mutual is the 5th largest global insurer based on 2017 gross written premium, with over 50,000 employees in 30 countries and economies around the world. Our purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care.  We achieve this by offering a full range of personal, commercial, and specialty Property & Casualty insurance coverages. Our customers’ trust has earned us the 68th spot on the Fortune 100 list of largest corporations in the U.S., based on 2017 revenue.

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