Auto insurance, for the future of work and play.
Let's face it, auto insurance hasn't evolved since the dawn of the automobile. We're on the edge of breakthrough changes in how we work, live, and play driven by the sharing/ gig economy, vehicle subscriptions, fractional ownership, and autonomous driving technologies. These changes require a new kind of insurance, which is why we created Motion.
Sharing/ Gig Economy
Do you have a sharing economy app with an automobile focus? If yes, then we're the ideal partner for you. Let's face it, you're probably paying through the nose for a commercial policy that covers all of your drivers (or, if you're a car sharing company, all of the renters). And yet, the owners of the vehicles are getting screwed by their personal insurance. Not only are they being billed for personal use, they are also being billed for all of the miles that you're already insuring. After all, how are they going to know which miles are for business vs. personal?
The good news is that we (most likely) already have a working relationship with your telematics solution, and can therefore deduct the business miles from the personal miles. In other words, we're probably the only insurer who won't double-bill your customers. Even better, you can offer our insurance from directly inside your app and earn revenue in the process. Keep your customers... and keep them happy.
Vehicle Subscriptions/ Fractional Ownership
Are you an OEM or owner of a fleet of vehicles that operates on vehicle subscriptions or fractional ownership? If yes, you're most likely paying a very large corporate insurance policy that you legally need only because no auto insurance company will insure your customers on an as-needed, ad hoc basis.
The good news is that we (most likely) already have a working relationship your mapping technology company or telematics solution, which will allow you to integrate insurance automagically during your sign up process and pass that cost on directly to the customer. In other words, you'll be able to lower your published rates, earn revenue in the process, and save your company from not being able to charge the appropriate rates for the highest-risk drivers.
Autonomous Driving Technologies
There have been over 30,000 motor vehicle deaths a year, every year, since 1946. While cars have gotten safer, drivers have gotten worse. Enter autonomous driving technologies. Tesla states that autonomous-driving installed vehicles have averaged one fatality for every 320M miles vs. 86M miles for other vehicles. NHTSA found that Tesla autopilot-installed vehicles had a 40% drop in accident rate frequency. And while the IIHS had a more prosaic frequency reduction estimate of 13%, it's hard to argue that autonomous-driving tech doesn't make the roads safer.
Sadly, a whopping 73% of Americans (vs. 63% at the end of 2017), per a poll conducted by AAA, don't trust autonomous-driving tech due to recent headlines. Let's change the rhetoric.
If your company builds autonomous-driving technologies, wants to know the real-world implication on overall risk, and wants to reward customers with insurance discounts for adopting and using the technology, then we are the insurance partner for you. With enough data and rigorous validation, we will put our money where our mouth is and provide discounts for every mile of autonomous driving driven.
Auto-Focused & Consumer-Focused Experiences
Not every customer experience is about the sharing economy and autonomous-driving tech. That doesn't mean we're not exactly what your customers are looking for.
We have one partner whose core product is a financial app that helps you save money by automagically cancelling subscriptions you don't want. Guess what? Some of those customers want a better auto insurance experience that also helps them save money. Similarly, we are partnered with auto-insurance comparison-shopping company MagicQuote.
If your customers want a seamless, painless insurance experience that leverages all that tech has to offer and rewards customers for driving safely, and your company wants to earn affiliate revenue, we should definitely talk. For example, perhaps your company offers a mileage tracking app and we can better serve your customer's lifestyle and financial needs?