bolt Partners with Zendrive to help insurers acquire safer drivers through the Insurance Qualified Leads (IQL) Program
World’s largest P&C exchange taps Zendrive’s powerful Mobility Risk Intelligence (MRI) platform to provide ultra-preferred risk to insurers
SAN FRANCISCO, Sept. 28, 2021 (GLOBE NEWSWIRE) — Zendrive, a mission-driven company making roads safer with data and analytics, today announced an exclusive new partnership with the leading insuretech bolt. bolt will leverage Zendrive’s Insurance Qualified Leads (IQL) solution powered by its Mobility Risk Intelligence (MRI) platform to help insurers acquire safer drivers through its largest distribution network.
To help insurers find customers with safe driving habits, bolt needed a proven partner that could deliver engaging consumer experiences and credible behavioral and contextual insights. With their emphasis on leveraging technology to connect insurers with consumers through embedded experiences, bolt decided to leverage Zendrive’s IQL platform — the only platform with a reach of over 100 million users — to deliver a steady stream of preferred risk drivers to insurers in the bolt Exchange. Through this program, consumers will be able to opt-in to a short digital test drive experience and qualify for an exclusive discount from a wide range of insurance providers.
“Building a digital customer acquisition motion is difficult and pricey for insurers large and small. Acquiring superior risk digitally is even more difficult to do at scale. By partnering with Zendrive, bolt can now provide more visibility and transparency into actual driver risk to insurers who are trying to make smarter customer acquisition decisions, at a huge scale and with superior digital customer acquisition value,” said Jim Dwayne, Chief Executive Officer of Bolt. “We want our insurance partners to use risk insights to acquire safer drivers and ultimately increase profitability and Zendrive’s IQL solution is the only reliable, scalable, and proven way to get it done seamlessly.”
There has been a steep increase in insurance shopping activity due to the pandemic. Consumers are trying to save money where they can, and insurers are looking for more equitable alternatives to credit scores for pricing and underwriting.
“We have provided hundreds of thousands of qualified leads to our insurance partners in the past few months, which equates to tens of millions in new policy premiums for participating insurers from customers that are less likely to have a collision,” said Jonathan Matus, Founder and CEO of Zendrive. “ By partnering with bolt, the world’s largest distribution exchange in the P&C world, we can now help hundreds of insurers provide personalized insurance quotes to millions of drivers across the globe.”
By helping insurers acquire actual driver risk behavior prior to the time of acquisition, bolt and Zendrive are making insurance pricing more accurate and, in most cases, more affordable and fair for safer drivers.
About Zendrive
Zendrive’s mission is to make roads safer through data and analytics. Its award-winning Mobility Risk Intelligence (MRI) platform — powered by 200 billion miles of data gathered from 100s of millions of drivers across the globe — helps insurers, automotive OEMs, consumer apps, fleets, and telcos understand and mitigate mobility risk in real-time, reducing the likelihood of collisions by 49%. The platform provides leading insurers like Progressive, MiWay, Sura, AXA the ability to acquire preferred risk, provide UBI and BBI experiences, automate claims, and build advanced risk models with the help of its industry-leading score. The company has been recognized as one of Fast Company’s Most Innovative Companies and won the 2017 Best Startup in San Francisco award. The company recently brought in significant additional capital to fuel growth via a partnership with Trinity.
About bolt
bolt is the leading insurtech exchange for the P&C insurance industry, uniting distributors and providers on a single platform to transform the way insurance is bought and sold. The result is the world’s biggest exchange working with two-thirds of America’s leading carriers, helping more people protect the things they value.
Media Contact:
Launchsquad for Zendrive
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