HTT’s Hyperloop technology declared insurable by Munich Re

By Jonathan Dyble
Hyperloop Transportation Technologies (HTT) and Munich Re, a leading global insurer, have revealed that HTT’s technology is both feasible and insurabl...

Hyperloop Transportation Technologies (HTT) and Munich Re, a leading global insurer, have revealed that HTT’s technology is both feasible and insurable after collaborating and conducting extensive risk analysis research over the past year.

"Offering an insurable system is a massive milestone for this groundbreaking technology,” said Dirk Ahlborn, CEO and Co-founder of HTT. “As we move forward with commercialization of the system and our technology, our biggest challenge remains the creation of a new regulatory framework.”

See also:

Munich Re’s Special Enterprise Risks Unit had been created specifically to look at the risks and challenges posed by HTT’s technology, with the report forming the foundation for active strategic risk assessment.

"The technology developed by HTT is set to fundamentally change the way we travel in the 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 at Corporate Insurance Partner is happy to develop.”

As a result of the successful risk assessment, HTT are now set to begin building their project.

"Now with further validation that our technologies and system are feasible and insurable, we are ready to build,” said Chairman and Co-founder of HTT, Bibop Gresta. “We are delighted to have found an innovative partner in Munich Re that takes a constructive and cooperative approach to our very specific needs."

The two companies will continue to work cooperate in the hope of making HTT becoming a real possibility in the not so distant future.

Share
Share

Featured Articles

Exec Q&A with Karl Cheng, TMT Sector Leader of EY-Parthenon

Karl Cheng is Americas Technology, Media and Entertainment and Telecommunications (TMT) Sector Leader for EY-Parthenon, the global strategy consulting firm

Executive Q&A with CEO Guy Levy-Yurista of Synthace

Chief Executive Officer of Synthace, Guy Levy-Yurista, Ph.D, shares how the cloud-based Sythnace is changing the game for scientists within R&D

Executive Q&A with Shuki Licht, SVP & CIO, Finastra

As SVP and Chief Innovation Officer Shuki Licht discusses life at Finastra, a provider of financial software applications, open-platform and marketplaces

Profits continue to soar for Belfast-based IT firm Kainos

Digital Transformation

Executive Q&A with Ciaran Dynes, CPO of Matillion

Cloud & Cybersecurity

Executive Q&A with Tom Homer, President, GTT

Enterprise IT