Driveway Software is a telematics company that provides a smartphone-based platform for the usage-based insurance (UBI) industry. The company was co-founded in 2013 by CEO Igor Katsman and Jake Diner. It is headquartered in San Mateo, California."Five Companies Taking the Auto Industry the Next Million Miles", Inc.com, retrieved 5 February 2015.
History The company was founded in 2013. The Driveway app was the first telematics solution in the auto insurance industry to offer automatic trip detection, to function with no hardware dependency, and to bear no significant impact on the performance or battery life of user smartphones.
Within the first six years after its introduction, the app had been downloaded by over 200,000 drivers and had collected more than 500 million miles of driving data."Pinnacle and Driveway Team Up to Provide Usage Based Insurance Strategies and Programs to Insurers", Pinnacle Actuarial Resources, 10 February 2015.
With its first round of funding in 2015, the company established a customer base of mid-sized insurers."How IoT Will Change Your Relationship With Insurance", Tech Crunch, 17 August 2015.
Industry involvement The Driveway Software has been featured in industry publications including Insurance Innovation Reporter,"UBI Platform Selection: Will You Bet on OBD or Mobile?", Insurance Innovation Reporter, 24 June 2015. IoT Evolution,"Usage Based Insurance Strategies: a Real-time Solution That Lags", IoT Evolution Magazine, retrieved 5 February 2015. Property Casualty 360,"UBI data discoveries shed new light on smartphone platform potential", Property Casualty 360, 14 October 2014. Insurance Technology Association (ITA),"Ditch the Onboard Device, But Not the UBI Model", Insurance Technology Association, 6 June 2014. Insurance & Technology"Mobile Reduces Telematics Barriers" , Insurance & Technology, 30 May 2014. and Insurance Thought Leadership"How to Boost Loyalty in Auto Insurance", Insurance Thought Leadership, 26 January 2015. when dealing with the importance of UBI, the differences between OBD- and mobile-deployed telematics solutions, real-time data, user privacy, telematics fraud detection and the ways in which UBI can improve customer retention.
In 2015, Driveway Software partnered with the insurance analytics firm Pinnacle Actuarial Resources to offer a coordinated UBI solution based on driver scoring."Pinnacle and Driveway Team Up to Provide Usage Based Insurance Strategies and Programs to Insurers", Pinnacle Actuarial Resources, 10 February 2015.
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