Insurer Zurich México Joins EV100 Initiative

Zurich Group became the first insurance company to join the EV100 initiative and the company’s branch in Mexico announced the purchase of 42 hybrid units for claim adjusters, reports El Economista. Zurich México also aims to replace the company’s entire fleet with hybrid vehicles by 2029.

What is EV100?

It is a global initiative promoted by The Climate Group and supported by the UN, which aims to bring together forward-looking companies committed to accelerating the transition to electric vehicles (EV). The initiative is also setting goals to make electric transportation the new normal by 2030 to reduce the harmful gases that reach the atmosphere, explains The Climate Group. 

To date, there are 106 companies across over 80 markets committing to transition their fleets to EV and install charging stations for staff and customers by 2030. These companies range from Bank of America and Deloitte to LG and Zurich Group, explains The Climate Group, with all companies having different goals depending on their scale. “The transition to hybrid and electric vehicles implies that an employee’s needs will change over time, as well. [The] objective is to better support and advise companies when updating their fleets, managing fleet costs and providing clarity to the company,” explained Regina Granados, CEO of LeasePlan Mexico, in an interview with MBN. LeasePlan is one of the founding members of the EV100 initiative.

The Zurich Group became the first insurer to join this plan. “We decided to adopt this strategy because Mexico is one of the countries that use claim adjusters, meaning that we have to use more vehicles than any other country to serve our customers,” said Pedro Muro, Director of Claims Zurich Mexico, to El Economista. Muro explains that committing the company to this initiative was important particularly in Mexico City, which is one of the cities in the world with the highest pollutant emissions thanks to its large population and the demand for mobility, reports El Economista.

With a MX$15 million (US$753,332) investment, the company bought Toyota Priuses and Chevrolet Beats for this hybrid vehicle transition. In total, Zurich Mexico has purchased 42 vehicles for Mexico City and Puebla. The company decided to acquire hybrid vehicles, explains Muro, as Mexico still lacks electric charging stations for EVs. By acquiring hybrid vehicles, the company prevents a situation where a claim adjuster runs out of battery where there are no charging stations available, he told El Economista.