Zurich Insurance Group has acquired 100 percent of the shares of Bright Box HK Limited (Bright Box) and its subsidiaries. The implications of the acquisition are:
- Acquisition will increase Zurich’s capabilities in connected car technologies and mobility
- Acquisition will strengthen Zurich’s proposition for car drivers, car dealers and original equipment manufacturer
- Acquisition will facilitate new insurance services leveraging telematics-enabled data analytics
The company was founded in 2012, is headquartered in Hong Kong, has operations in Europe and conducts business globally. It provides telematics solutions that link drivers to their vehicles, and the vehicles to networks of car dealers and original equipment manufacturers (OEMs).
Bright Box will contribute by further expanding Zurich’s focus on mobility through tailored services, enhanced by digital interactions with car drivers and closer collaboration with car dealers and OEMs. The company already has business relationships with leading global OEMs and hundreds of dealerships worldwide, providing the entire stack of connected car technology like cloud IT platform, mobile and web apps, hardware, as well as the connectivity between them.