Insurtechs Noblr, TrueMotion join forces
Two companies in the insurtech world have partnered up with Noblr, an insurer rewarding members on driving actions, teaming up with TrueMotion to use the latter's smartphone telematics in its product.
"We needed a smartphone telematics partner that could accurately identify drivers and capture driving behaviors like smoothness and focus – without the crutch of a hardware device or tag,” shared Gary Tolman, founder and CEO of Noblr. "We're building a different kind of car insurance company, based on creating a community of safe drivers and rewarding those drivers."
Noblr uses four driving factors to determine price: smoothness of driving, which monitors braking and quick acceleration;phone usage while driving, road choice; and time of day. TrueMotion's platform uses machine learning to reveals driving behavior that dovetail nicely with what Noblr wanted to measure, Tolman added.
"The future of auto insurance will be fueled by smartphone driving data. With variable monthly rates based on actual driving data derived from smartphones, the Noblr team has built a product that will allow it to deliver one of the best user experiences in the market today,” states Ted Gramer of TrueMotion.