Modives provides an automated insurance verification and monitoring system that connects directly with insurers to ensure that coverage is active, accurate, and adequate during auto and property transactions. This technology reduces the time and risk associated with manual verification processes, enhancing transparency and improving the customer experience.
Funding
$3M 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
Manual insurance verification processes are time-consuming and prone to errors, leading to increased risk and reduced transparency in auto and property transactions. Delays in verifying coverage can negatively impact customer experience and operational efficiency for businesses. Traditional methods often fail to provide real-time updates on policy changes or cancellations, leaving businesses vulnerable to uncovered losses.
Solution
Modives offers an automated insurance verification and monitoring system that directly connects with insurers to ensure active, accurate, and adequate coverage. The platform provides real-time insurance verification, eliminating the need for manual processes and reducing associated risks. Using a customer-credentialed system, Modives automatically retrieves full coverage details for in-depth analysis. Its AI-driven adequacy engine, built on industry knowledge, analyzes coverage data to ensure policies meet specific requirements. Modives also offers continuous monitoring with immediate alerts on policy changes or cancellations.
Target Audience
Modives serves auto dealerships, auto rental companies, property management firms, and auto finance companies seeking to automate and improve their insurance verification processes.
Features
- Real-time insurance verification via direct connection with insurers
- Automated data retrieval using customer-provided credentials
- AI-powered adequacy engine for in-depth coverage analysis
- Continuous policy monitoring with immediate alerts for changes or cancellations
- Web-based application for immediate use without technical resources
- API integration for embedding verification into existing DMS, PMS, and CRM systems
- Embedded insurance solutions to help customers obtain adequate coverage
- CheckMy Driver for auto dealerships and rentals, and CheckMy Resident for property management