Ferrari Leadership Reorg to Focus on Innovation, Digital, New Tech

Ferrari is debuting a new corporate structure in January to bolster its operations, the company announced Monday (Dec. 20).

New CEO Benedetto Vigna has already begun making changes, with a new management structure slated to be revealed on Jan. 10. The release says that this new structure will “foster innovation, optimise processes and increase collaboration both internally and with partners.”

Three senior managers are leaving the company: Nicola Boari, chief brand diversification officer; Michael Leiters, chief technology officer; and Vicenzo Regazzoni, chief manufacturing officer.

The release notes that the company has already targeted external new hires for the new structure, though no details were available yet.

Automakers have been evolving like other areas of commerce, with PYMNTS writing that Toyota has begun implementing things like auto insurance integrated with other ownership benefits, which can be bought through the Toyota mobile app.

See also: Automakers are Adding Insurance and Other Services That Use Driving Data

Toyota Auto Insurance is being offered by the specific insurance agency, and Will Nicklas, chief operating officer at Toyota, said the idea would “enhance the complete Toyota ownership experience for our customers.”

This is in-line with the products being pushed out by other automakers, many of which use connected technology, which will garner recurring revenue even after the customer buys the car.

Stellantis was among the other automakers putting out such products, announcing earlier this month that it would also be rolling out usage-based auto insurance. That will be launched in 2022 in Europe and North America, and then globally later on, and it will be used to collect data from connected cars.

“If the past was about increasing margins by moving customers north in hardware and trim levels, our future is about offering customers software-based services,” said Mamatha Chamarthi, senior vice president software business and product at Stellantis.

Additionally, Tesla has rolled out a new telematics insurance product in October, which will come with remote monitoring of driving practices, using data to determine an insurance premium.

In a third-quarter earnings call, Zachary Kirkhorn, chief financial officer at Tesla, said the cars connectivity means there’s a large amount of data to assess a driver’s attributes and “whether those attributes correlate with safety.”