The Problem

Due to limited data insurance companies do not have enough control over accidents which leads to fraud

The Solution

Drive Buddy detects car accident automatically by using sensors on the phone. It automatically collects and sends crash data to the insurance company

Also it connects driver to elected hospital and nominated emergency contact

The Data

With Drive Buddy, insurance company can now receive various data like speed of the car before crash, location of the crash, impact of the crash.

The Market

In US market, annual total revenue is around $1.2 Trillion. Only P/C insurance revenue is around $520 Billion.

Business Model

We will be selling our software service to insurance companies

Why Now?

Fraud steals $80 billion a year across all lines of insurance in the U.S. Automobile claim fraud and buildup added $5.6 billion-$7.7 billion in excess payments to auto-injury claims paid in the U.S. in 2012

86 percent of Americans think “insurance fraud leads to higher rates for everyone”