U.S. insurance industry net premiums written totaled $1.32 trillion in 2019, of which approximately $300b relates to auto. This presents a massive addressable market for LULA, in its quest to modernize insurance infrastructure and become the Stripe for Insurance.

The Problem

Insurance pricing methodologies have not been changed in decades.

Businesses and consumers today are overpaying for auto insurance, especially if their vehicle is idle a large percentage of the time since most insurance plans are charged annually. The pricing models used are inaccurate and outdated.

The Solution

TrailSafe powered by LULA is a risk assessment engine that can be used for episodic insurance pricing based on the driving route a driver takes to their destination. Customers are rewarded with a lower cost policy and a safer ride, by choosing a path proven to lower their accident risk.

When presented with choice, consumers will often choose a path that saves them money, if the downside of doing so is tolerable, in this case, a slightly longer or less direct drive. In choosing safer routes, the driver will also be contributing to reducing congestion on potentially more dangerous routes, thereby making the road safer for others as well.

How it Works

Our app analyzes over 150 risk factors related to road conditions and nearby hazard environment, dynamically sourced from google maps API, public records sources, and state DOT crash data, to accurately predict accident occurrence risk on a given route within a 1% margin of error, based on supervised modeling which is continually retrained based on recent historical data.

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