April 25, 2019—Tesla CEO Elon Musk said the company may soon roll out an insurance product, reported CNBC.
Tesla has access to “direct knowledge of the risk profile of customers based on the car,” Musk said. This gives the company a significant “price sort of arbitrage or information arbitrage opportunity,” he explained.
According to Musk, the company already gives detailed information to insurance companies to help with rates.
He hopes to launch the insurance program in a month.
