Adiona develops AI-powered motor insurance solutions that leverage IoT data for personalized risk assessment. The platform uses a mobile app to profile driver behavior over a 28-day period, offering usage-based discounts for safe driving. This approach aims to make insurance more affordable, streamline claims, and enhance the customer experience through transparent underwriting.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional motor insurance policies often rely on static, broad-based risk assessments, leading to unfair premiums that don't accurately reflect individual driving behavior. This can result in safe drivers subsidizing the costs associated with riskier drivers, creating a lack of transparency and personalized pricing.
Solution
Adiona provides AI-powered motor insurance that leverages driving data to offer personalized and transparent policies. The company's "Try Before You Buy" mobile app assesses driving habits over a 28-day period, generating an actuarial driving score that reflects individual risk. This score is based on factors such as speeding, braking, cornering, phone usage, time of day, and weather conditions. Good drivers are rewarded with discounted premiums and access to loyalty programs, while average drivers receive app-based education to improve their driving habits. The platform aims to create a fairer insurance system where premiums are directly tied to actual driving behavior.
Target Audience
The primary target audience is individual drivers seeking fair, transparent, and personalized motor insurance policies, particularly those who believe their safe driving habits are not adequately reflected in traditional insurance pricing.
Features
- Mobile app for automatic trip recording and driving behavior analysis
- AI-powered risk assessment based on real-time driving data
- Personalized insurance quotes reflecting individual driving scores
- Rewards program for safe driving habits, including discounted premiums
- App-based education and advice for improving driving skills
- Monitoring of driving behavior trends over time