Behaviour-based car insurance company Noblr has launched into Louisiana. With this, the InsurTech is now available in six US states.
The InsurTech is headquartered in California and offers an app-based, personalised car insurance service that rewards users with good driving behaviours.
Its behaviour-based pricing measures how well a member drivers whenever they are on the road. Noblr, which offers rates in real-time for the duration of the policy, helps members save money if they drive less, brake and accelerate mindfully, and don’t use their phones whilst driving. It also accounts for a number of other factors.
Drivers can learn from their driving data to improve their behaviours and lower their rates.
Noblr co-founder & CEO Gary Tolman said, “We’re excited to launch in our sixth state, and to bring an empowering car insurance experience to drivers across Louisiana.
“We couldn’t be better timed to help our members benefit financially. Noblr members only pay for the miles they drive, which can help them save a considerable amount during the times they may find themselves driving less, such as the current extraordinary circumstances presented by COVID-19. When our members do get back on the road, they can still save substantially by leveraging Noblr’s technology to make safer, money-saving choices.”
The company closed its seed funding round in 2019, with contributions coming from Hudson Structured Capital Management, White Mountains and TPRE Reinsurance.
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