Earnix, a global provider of advanced rating, pricing, and product personalization solutions for insurers and banks, announced it has acquired AI-powered telematics provider Driveway Software Corporation's assets. The assets, including a telematics app, will serve as a cornerstone in establishing a new and transformative offering in Usage-Based Insurance (UBI) and Behavior-Based Insurance (BBI).
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The central value proposition driven by this acquisition is Driveway's proven consumer telematics app that will be integrated as a core component within Earnix's UBI/BBI offering.
"As consumer expectations continue to evolve rapidly, insurers are under increasing pressure to provide offerings tailored to the needs of the market. As a result, the demand for UBI and BBI is helping to drive the revolution for personalized and real-time offers in insurance, providing carriers with the opportunity to differentiate themselves and create lasting customer value through relevant and timely engagement. Our powerful new solution incorporates intelligent telematics with the operational capacity and advanced analytics necessary for insurers to deliver rates and offerings in complete and precise alignment with the needs of their customers, each time," said Udi Ziv, CEO at Earnix.
