This startup provides customizable car insurance plans that allow customers to select both liability and non-liability coverages tailored to their specific needs. By offering affordable rates and personalized options, the company enables individuals to manage their car insurance effectively while ensuring adequate protection.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional car insurance requires customers to pay for coverage even when they are not using their vehicles, leading to unnecessary expenses. Policy changes and adjustments often involve cumbersome paperwork and delays.
Solution
Pact Insurance offers on-demand car insurance that allows users to pause their coverage and premiums when they are not driving, providing potential savings of up to 40%. Customers can manage their policies entirely through a mobile app, enabling instant policy changes without paperwork. The platform also provides roadside assistance, with response times averaging 30 minutes. Pact Insurance aims to provide a more flexible and user-friendly car insurance experience, ensuring customers only pay for the coverage they need.
Target Audience
Pact Insurance targets car owners who drive infrequently or have predictable periods when they do not need coverage, such as during travel or when using alternative transportation.
Features
- Mobile app for managing car insurance policies
- Pause feature to suspend coverage and premiums when not driving
- Instant policy changes without paperwork
- Roadside assistance with an average response time of 30 minutes
- Digital claims processing