InsurTech Humn.ai has unveiled a new product named Rideshur that uses real-time data to generate premiums.
The startup, which is backed by the incubator Insurtech Gateway, said that the new product will enable it to process big data to create a risk scores for individual drivers, and this will generate premiums tailored to each driver, according to Fleet News.
The idea is that the ability to process huge swats of real-time data would enable it to tap into insights the commercial fleet industry have been able to reach before.
“The overarching problem with the traditional insurance framework is that insurers often have to price fleets on a limited set of static risk factors,” said Mark Musson, founder and CEO of Humn.ai.
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