Motion Auto

Transparent, data-driven personalization for the future of auto insur...


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KEY TRACTION

Proprietary algorithms, Blockchain, Neural nets, and native mobile app all developed;

Established huge network of partners (Ethereum, Twilio, AWS, many more);

Under investigation and research for several patents;

Custom integrated telemetry systems and driver scoring;

Rates filed with state regulatory boards;

Established network of partnership for acquisition signed, being integrated


As drivers, the requirement to have auto insurance is just a reality of life if you drive a car - but paying for the mistakes of others shouldn’t be.

The auto insurance industry has relied far too long on making “educated guesses” as to whether or not you’ll get in an accident to determine premium pricing.  So even if you’re a good driver, chances are you’re getting charged for the past poor performance of others. In fact 80% of most drivers are paying for the 20% of perceived poor drivers. More or less, you are paying for mis-priced policies by nearly all the carriers out there.

The advent of “mobility” innovations like carsharing and autonomous vehicles, is only magnifying this antiquated status quo.  Auto insurance in 2019 should be fully programmatic, nimble, and able to ingest mountains of data; but instead, it is plagued by a lack of:

 


Very few have exhibited a willingness to evolve with the times in the auto insurance industry. They haven’t been challenged!  Understandably there are some significant barriers to entry. At Motion Auto, we’re breaking that mold and overcoming those barriers with a focus on data & accuracy on the back end, and customer engagement & transparency on the front end. We are updating the fundamentals of insurance (acquisition, underwriting, claims) and understanding the reality that customers expectations have changed all while being profitable. 

Rather than utilizing an unfair system that provides very few rewards to good drivers, we take more of an all-encompassing approach at Motion Auto.  Our system combines these two components to deliver more behavior-based, contextual and accurate pricing to customers:



 



No more getting lost in the shuffle.  We pride ourselves on being exceptionally consumer-focused - and more accessible & transparent than any other insurance provider out there.

This starts with the unparalleled amount of data we collect through our app’s marketing underwriting layer (in addition to the traditional layer).  Add this to what we collect from our network of OEM partners, we’re talking over 1,100+ data points in total.

 

 

The more data we have to understand each drivers’ contextual behavior, the better we’ll be able to assess risk propensity & fraud, ultimately identifying optimal rates and risks.  For customers, this means that the days of educated guessing are over with a clear understanding of what impacts their price (what a novel idea!)

Not only is all of this done in real time - it’s also done intelligently.  Our proprietary machine & deep learning algorithms and neural nets allow us to predict behavior within a very fast period of time (250 miles or less) and it is tied to our Blockchain.

This sum total of these factors is an incredibly sophisticated data analysis that will help us to adjust rates rapidly, unlike all other carriers on today’s market where it can take 3-5 years. We are aiming to do it in just a few months or less. 

Here are just a handful more of the many features & benefits we’re bringing to the auto insurance world:

A rating (pricing) structure that consists of over 3,000 lines of code, 1,800 pages of rules and 135 tables used to generate the most accurate premiums & rates, combined with non-siloed data. 

A completely custom rating engine that ingests & computes in fractions of a second (vs. 10+ minutes with other carriers using off-the-shelf software).

API-driven insurance policies that can write a policy with a data handshake, with any partner in nearly any environment (mobile, desktop, a car’s in-dash infotainment center, etc.)

The ability to turn disparate data pieces that other carriers don’t use into contextual data, creating a unique, leveraged data advantage (instead of ‘hard brake’ we go ah!, hard brake because he was speeding to try and make it through a yellow light with the sun in his face and the road was icy). 

Custom policies, forms, and symbols along with a highly skilled progressive rate filing for each state allowing us incredible leverage to iterate changes rapidly. 

Timestamped and Blockchain-validated auditable driver & vehicle histories. 
 

A large, active partnership network that helps keep us flush with the latest actionable driver data.
 

Complete feedback for a driver on how they are driving and how that affects their price at renewal, no more secrets. 





Let’s learn a little more about the executives steering the Motion Auto vision:

Jason Wootton | CEO/Co-Founder | Insurance veteran with over 16 years in the space. Flourished in the field during 8 years at Quomation Insurance Services, helping them expand from 2 states to 48, working with over 450 carriers nationally.  Has consulted for many large insurance carriers, agencies with household names and was most recently in management/stake holder at LeadCloud, which was acquired by National General Holding Corporation.

Daniel Weisman | CIO/Co-Founder | Data expert and junkie with proficiency in performance metrics, behavioral economics, & statistical validity.  Was a paid mentee in a prestigious work-learn with NASA/JPL, doing data analysis on protein composition of reproductive cells in space.

Robert Lake | CTO | Spent 17 years at Cisco Systems building & leading strategic planning, BI, and data science teams.  Was also Head of Data Production for Citadel LLC, and currently leads the design & implementation of our technology infrastructure.

Paul Thompson | CPO | Over 18 years of significant Product Management P&L experience at Nationwide, Progressive, Mercury and other top insurance carriers.  Formerly oversaw a $1B book of business for personal and commercial lines. 

David Benson | CFO | Served in multiple CEO, CFO, and similar roles during his 27-year career.  Industries of expertise include aerospace, real estate, technology, and sports.


We also receive the key outside support of a talented & experienced Advisory Board.

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