The startup provides location-based crash risk analytics that generate precise crash risk scores for auto insurance companies. By utilizing data and analytics, the service enhances risk selection and pricing accuracy, ultimately aiming to reduce traffic accidents and improve profitability in the automotive and transportation sectors.
Funding
$2.5M 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.
TVFounders
Product
Problem
Traditional methods for assessing road risk in the auto insurance industry rely on broad geographic data like zip codes, which lack granularity and fail to account for localized accident hotspots. Existing solutions often depend on limited contributory databases, capturing only a fraction of total insurance claims, and may not reflect the most current crash data. This can lead to inaccurate pricing, underwriting inefficiencies, and missed opportunities for proactive road safety measures.
Solution
TNEDICCA provides road risk intelligence by quantifying accident risk at the geolocation level, enabling more granular and precise risk assessment. The company leverages a proprietary algorithm that combines a nationwide database of over 30 million police-reported crashes with insurance data to identify accident hotspots. TNEDICCA Road Risk Scores offer auto insurers a more complete understanding of risk by providing a larger sample size, more precise location data (latitude and longitude), and regularly refreshed data compared to traditional methods. This allows for improved pricing and territory ratemaking, better underwriting and risk selection, and enhanced risk scoring for telematics and connected car data.
Target Audience
TNEDICCA's primary customers include auto insurance carriers seeking to improve pricing accuracy and underwriting, as well as navigation service providers, last-mile delivery companies, and carmakers focused on enhancing road safety.
Features
- Location-based risk scores quantifying accident risk at the geolocation level
- Proprietary algorithm combining police-reported crash data with insurance data
- Crash database comprising over 80% of insurance claims
- Precise accident location data using latitude and longitude coordinates
- Regularly refreshed data for up-to-date risk assessment
- Integration with telematics and connected car data for enhanced risk scoring
- Route optimization solutions for navigation service providers and last-mile delivery companies
- Accident hotspot warnings for safe-driving apps