Metromile, a car insurance platform that allows drivers to pay based on their actual number of hours on the road, has raised $90 million in a series E round of funding co-led by insurance giants Tokio Marine Holdings and Intact Financial. NEA, Index Ventures, Future Fund, and Section 32 also participated in the round. Founded in 2011, Metromile offers a device … [Read more...] about Pay-per-mile car insurance company Metromile raises $90 million to automate the claims process
Accident insurance company
The appeal of artificial intelligence across many industries is impossible to deny. But it may come as a surprise to hear that the insurance industry — typically perceived by outsiders to be one of the more decidedly unsexy industries today — outspends 12 other major industries when it comes to investing in AI. According to the Global Trends Study 2017, … [Read more...] about Why insurance companies are betting big on AI-powered chatbots
The British food delivery company Deliveroo will enrol its 35,000 riders into a new global insurance scheme that covers injuries sustained both on and off duty. The insurance scheme, which will be free to all couriers in 12 countries, is expected to cost the company almost £10m. CEO and founder of Deliveroo Will Shu said: “We know riders value the flexibility of … [Read more...] about Deliveroo pledges to give their riders all over the world free accident insurance
Deliveroo is to offer free accident insurance to all of its 35,000 riders. The UK company, which uses a network of gig economy couriers to deliver takeaway meals, said its insurance will cover £7,500 of medical expenses per rider and up to 75pc of gross average income. The insurance deal will cover Deliveroo workers when they are logged into the app and marked as … [Read more...] about Deliveroo introduces free accident insurance for riders
Would tomorrow's self-driving cars be safer if they were controlled by insurance companies? Would they get to market sooner?That's one potential reality being proposed by Oxbotica, an autonomous-vehicle startup that is looking at how tomorrow's automated vehicles gather and share data. Spun off from the University of Oxford, Oxbotica's co-founder and Oxford professor, Paul … [Read more...] about Should insurance companies directly control self-driving cars?
Congress may have forced Mark Zuckerberg to reveal more about personal data gathered on Facebook (FB). But consider this: Your insurance company likely knows a lot more about you. Insurers' cache of private information includes credit reports, the market value of your home, age, marital status, education and, in the case of a life insurance policy, the status of … [Read more...] about Your insurance company knows more about you than Facebook
Insurance is one industry that’s being disrupted by blockchain technology on a near-weekly basis. The latest entrant? Kasko2Go — a blockchain technology-based car insurance startup with a unique trick up its sleeve: military-grade anti-fraud technology that the company says goes way beyond insurance fraud detection. “Our anti-fraud system is based on a … [Read more...] about Kasko2Go uses military-grade tech to drive its blockchain-based car insurance
Britain’s largest auto insurer, Direct Line, has been offering Tesla owners a sweet-sounding deal for the last few months: Enable Autopilot, the semi-autonomous driver-assist system, and get five percent off your yearly insurance premium. When the insurer announced the inducement in December, Tesla owners nearly broke the internet, as they rushed to crow, assuming they … [Read more...] about Will Tesla’s Autopilot Make Your Car Insurance Any Cheaper? Maybe Not.
It feels like a page out of a science-fiction book: self-driving cars shuttling people around with little or no input from passengers. And yet, here we are. Self-driving technology is already a reality, and it’s improving every day thanks to machine learning and owner input. We’re not quite at the point of ditching drivers altogether, but that time may come sooner … [Read more...] about 3 ways self-driving cars will affect the insurance industry
In the United Kingdom, hanging onto that ancient Hotmail email address from secondary school might be costing you more than just the respect of your more tech-savvy peers. British insurance company Admiral has admitted to charging drivers who sign up with a Hotmail email address upwards of 30 pounds more per year for car insurance than those who sign up with a Gmail address. … [Read more...] about UK insurance company charges more based on email domain, first name