This company provides digital motor insurance policies for various vehicle types, including private cars, motorcycles, and commercial transport. They offer personalized, usage-based pricing and allow customers to manage policies and file claims quickly through a mobile application. Policyholders can earn rewards by improving their driving behavior based on telematics data.
Funding
$1.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional car insurance processes often involve lengthy paperwork, bureaucratic procedures, and delayed claims processing, leading to customer frustration and inconvenience. Many drivers also lack access to personalized pricing and incentives that reflect their actual driving behavior.
Solution
ETAP offers a mobile car insurance platform that leverages telematics to provide personalized pricing, instant coverage, and rapid claims processing. The platform uses real-time driving data to assess driver behavior, offering fairer premiums and rewarding safe driving with redeemable points. ETAP streamlines the insurance process, enabling users to obtain coverage in under 90 seconds and file claims within minutes through the mobile app. AI-powered claims processing and partnerships with verified repair centers ensure quick payouts and hassle-free repairs.
Target Audience
ETAP primarily targets individual car owners and fleet operators seeking convenient, affordable, and personalized car insurance solutions.
Features
- Mobile app for instant car insurance quotes and policy purchase
- Real-time telematics to monitor driving behavior (acceleration, braking, speeding, etc.)
- Personalized pricing based on driving data for fairer premiums
- Instant claims processing using AI, with payouts in minutes
- Option to select from a list of verified repair centers for hassle-free repairs
- Safe Driving Points (SDP) rewarded for good driving habits
- SDP can be redeemed for shopping vouchers, fuel, movie tickets, and other rewards
- Flexible coverage options, from annual to short-term (1-28 days)
- Digital policy management, renewals, and claims history accessible within the app
- Takaful insurance option with surplus redistribution to users or community support