Zurich and Driveway Launch Smartphone-Based Telematics Platform

Zurich Insurance Company Ltd. and Driveway Software launch smartphone-based telematics platform to power new mobility solutions

Los Angeles, CA (Sept. 4, 2019) – Driveway Software Corporation is pleased to announce that it has entered into a cooperation agreement with Zurich Insurance Company Ltd (“Zurich”) in order to leverage the Driveway technology platform and analytics engine. As Zurich develops innovative new products and services to meet customers’ evolving mobility needs, the companies plan to leverage the Driveway platform to power mobile experiences with driving insights, safety solutions and connected services.

The companies’ initial collaboration is the Zurich Driver app in Brazil. Zurich Driver uses Driveway’s telematics platform to analyze data collected from smartphone sensors. The app automatically detects driving and scores drivers on excessive speeding and aggressive braking, acceleration and cornering. It also measures the driver’s phone distraction and provides feedback to drivers about their phone use while driving, encouraging distraction-free driving. The platform allows Zurich’s policyholders who enroll in the program to save on their insurance pricing and they may win prizes for demonstrating safe driving.

“Zurich is one of the most respected insurance companies in the world, and our collaboration highlights the value they see in bringing innovation to traditional auto insurance and rewarding safe drivers,” said Mike Simmons, CEO of Driveway.

“There are great opportunities in the insurance industry today driven by innovation. Driveway is leveraging new technologies to change customer expectations in auto insurance,” said Igor Katsman, CTO of Driveway. “I’m looking forward to working with the Zurich team as they continue to scale their innovative technology platform and expand Driveway-powered usage based insurance solutions.”

About Driveway

Driveway makes software that makes driving safer. Driveway developed and patented the technology that enables insurers to measure and reward good driving behavior without the need for a plug-in device in the car. The company’s cloud SaaS platform leverages AI, behavioral science and mobile apps to deliver a cost-effective and frictionless driver safety scoring and Usage Based Insurance (UBI) solution for top insurers, cellular carriers and mobility companies globally. Driveway is on a mission to reduce distracted driving, improve mobility and save lives. For more information, visit driveway.ai.

About Zurich

Zurich North America is one of the largest providers of insurance solutions and services to businesses and individuals. Our customers represent industries ranging from agriculture to construction and include more than 90 percent of the Fortune 500. We’ve backed the building of some of the most recognizable structures in North America — from the Hoover Dam to Madison Square Garden to the Confederation Bridge. Our North American, LEED Platinum® headquarters is located in the Chicago area. We employ approximately 9,000 people in North America and have offices throughout the U.S. and Canada. Further information is available at www.zurichna.com.

Zurich North America is part of Zurich Insurance Group, a leading multi-line insurer that serves its customers in global and local markets. With approximately 54,000 employees, Zurich provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.

SOURCE: Driveway Software Corporation

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