Meet the insurtech: Honk
When Corey Brundage’s fiance’s car broke down in 2014, he realized that it would be easier to get an Uber than a tow truck. That led him to launch Honk Technologies, a claims and mobile roadside assistance platform used to connect drivers, towing professionals and insurers, soon after.
The company’s network includes more than 75,000 towing and roadside assistance service vehicles. Its Smart Assistant chatbot is linked to AI technology that identifies the ’best positioned’ service provider for each job, leading to response times between 15 and 30 minutes on average.
“We have modernized a long-standing, necessary function for motorists, providing the insurance industry with an opportunity to innovate.” Brundage says. "Consumers and carriers alike are looking for the best possible user experience. We offer seamless integration with carriers' own roadside assistance solutions, allowing insurers to take advantage of our latest features.”
Honk’s most recent updates to its platform refined its chatbot and GPS connectivity.
"Honk plays a key role in enabling us to make good on our strong commitment to the safety and satisfaction of our customers,” notes Bobby Massey, Claims Property Strategy Lead at Farmers Insurance. "Its driver network size and its leadership in customer satisfaction and performance make it an ideal technology partner.”
Like all companies, the coronavirus crisis has impacted Honk’s business. All three of its constituencies -- insurers, stranded motorists, and repair truck drivers are impacted.
“We care a great deal about how we treat the heroes of towing and roadside during the pandemic. It’s not only increased their personal risk, but with most people living under stay-at-home orders, consumer drive time is way down, which means there are fewer service calls,” says Steven Rojas, senior director of project management.
However, despite the decrease in calls, Honk is still routing at relatively the same rate. “We’ve been able to offer an uninterrupted stream of revenue for our network of tow providers,” Rojas adds.