With inflation sparking an increase in the cost of repairs, labor and claims, fees for insurance are similarly spiking across the board. Car insurance premiums rose 13.7% nationally over the past year, according to a study from Bankrate.com. Home insurance, meanwhile, climbed 12.1% year-on-year, Policygenius found.
But Jonathan Matus argues that it doesn’t have to be that way. He’s the founder of Fairmatic, a company that’s applying AI to — at least according to him — reduce risk in the car insurance industry.
Matus previously founded Zendrive, a platform that provides insights to enterprises for car insurance underwriting and claims as well as roadside assistance. While Zendrive is focused on insurance for individuals and families, Fairmatic has a more commercial bent — a customer base made up primarily of businesses.
Comments are closed.