Tesla Insurance is gearing up for a potential launch in Europe, as the company is seeking Legal Counsel specializing in insurance for the market.
Tesla originally established its Insurance business in Europe by opening a branch in Malta in December 2020. It has not offered specific insurance services to drivers in Europe as of yet, but the company continues to expand the service in the United States.
Now, it appears the automaker is moving closer to launching the service in Europe.
Tesla has posted a job seeking Legal Counsel for its European insurance operations. The automaker said Tesla Insurance Ltd will be a “full-stack in-house insurer that “is rethinking the way our customers experience insurance, [and] protect their Tesla products.” The posting states that the position is based in the company’s London Headquarters, located at 109 Devonshire Road in the Chiswick district.
Tesla posted the job in late January:
“Tesla Insurance Ltd, a full-stack in-house insurer, is rethinking the way our customers experience insurance, protect their Tesla products.
Tesla Insurance has an outstanding opportunity for a skilled Legal Counsel to build and lead the in-house legal function of the insurance company to guide through the legal and regulatory landscape of an insurer operating cross-border in Europe.
This is a full-time opportunity, to be based in our London HQ office.”
Filings with Companies House (via Insurance Post), the executive agency of the British Government that maintains the register of companies, also show Tesla registered to move its European Insurance operations to its headquarters in London, located at 109 Devonshire Road. This change occurred in March 2022.
Tesla has used other insurance programs in the U.K. and Europe to provide driver coverage through partnering insurance companies. Tesla has launched its own in-house insurance program, expanding to twelve U.S. states, providing real-time data on driving behavior to determine rates. This telemetrics system is unavailable in California, where Tesla launched the insurance program in 2019.
Tesla has not explicitly announced when it will launch insurance in other markets. However, the company is moving slowly but steadily toward offering the service to customers in Europe. The recent job posting shows the automaker is making moves toward launching the service by preparing to hire legal counsel to help with the launch and subsequent coverage of drivers.
In early 2022, CFO Zachary Kirkhorn hinted that Tesla could launch insurance in Europe by the end of the year. “…As we make more progress rolling out in the states and each incremental state becomes a little bit less effort than the prior, that’s when we’ll turn our attention to the Europe market,” he said. “We might be able to do that by the end of the year, starting to get work on Europe by the end of the year. We’ll have to see how we progress in the U.S.”
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