Nationwide Sponsors Labrador Retriever Robot
Giant insurer Nationwide is partnering with an early-stage robotics company, Southern California-based Labrador Systems, on a multi-state pilot program with the Labrador Retriever, a personal robot designed to help individuals live more independently as well as provide support to caregivers.
Labrador’s Retriever robot is designed to help people maintain their independence in the home by serving as an extra pair of hands to help move large objects as well as keep smaller items within reach. Featuring advanced 3D vision, obstacle sensors and navigation capabilities, the Retriever is designed to support a variety of users’ needs. The robot can operate either on-demand or on a pre-set schedule by automatically delivering items at a specific time and location.
“As a technology-focused mutual with a mission to protect our customers over the course of a 40-to-50-year relationship, Nationwide is actively thinking about how our members’ needs change and how we can help them stay safe,” said Nationwide Chief Innovation and Digital Officer Chetan Kandhari.
Labrador Systems CEO Mike Dooley said the company piloted the robot in 2021 and saw the Retriever “quickly became a regular part” of the users’ daily lives.
Nationwide is sponsoring a cross-country tour to study the use of the Retriever in a variety of use-cases, including senior living communities, post-acute rehab programs and individual homes.
The two firms think that as the share of America’s population over 65 increases, so too is the market for assistive, home-based care technologies. The U.S. Census Bureau reports that in 2021, 54 million people in the United States were 65 or older. By 2030, the population of those over 65 is expected to increase to 74 million.
At the same time, Americans want to stay in their homes as long as possible. A 2021 Nationwide Long-Term Care Consumer Survey found that 88 percent agreed that it is more important than ever to stay at home for long-term care.
Labrador Systems is funded by SOSV/HAX, Amazon’s Alexa Fund, iRobot Ventures, Grep VC and was awarded a National Science Foundation Grant in 2021.
Nirvana Insurance Platform for Trucking Industry Raises $25 Million
Nirvana Insurance, a technology-driven platform for commercial fleet insurance that uses data from sensors on trucks, announced the public launch of its services for the truck industry.
Led by key former employees from Samsara, Rubrik, and Root Insurance, Nirvana recently closed a $22 million Series A funding round, bringing the total raised to more than $25 million.
The round was led by Lightspeed Venture Partners with additional participation from General Catalyst, Elad Gil, Fidji Simo (CEO of Instacart), Spike Lipkin (CEO of nNewfront), Sam Hodges (CEO nofnVouch), and others.
Nirvana said it will use the funding to scale its operations, grow its team, and invest in research to expand its products and services.
The company uses telematics data to help fleets mitigate risk, improve driver performance, lower costs; and make the insurance process easier.
Nirvana said the global supply chain crunch has bee made worse by a trucking industry that is under duress and facing rising insurance premiums. More than 90% of the fleets nationwide have fewer than 50 trucks, the company said.
Nirvana gives up to a 20% discount upfront to the safest fleets, and turns an insurance process that often takes months into mere minutes.
“The analog approach to issuing insurance to commercial fleets is fundamentally broken,” said Rushil Goel, CEO and co-founder of Nirvana, who was previously a vice president at Samsara. “The process is confusing, slow, and comes at a high productivity and financial cost.”
The Nirvana platform connects data points from telematics and AI-powered dash cams, as well as public sources like the state motor vehicle departments and the U.S. Department of Transportation, to provide quick quotes. Nirvana’s machine-learning algorithms assess location, speed, erratic driving, weather, and traffic factors. Nirvana also coaches drivers and recommends routes to avoid.
The policies are also usage based: Customers only pay for how much they drive.
Nicole McMurtry, president of USI Insurance Services, said the platform has taken applications to quote processing time from 30-45 days to just 48 hours and has nearly eliminated any and all paperwork.
“On top of that, with commercial auto premiums continually on the rise, we feel like this is the exact product our customers need,” McMurtry said.
Auto Retalier Platform DealerPolicy Rebrands as Polly
Vermont-based DealerPolicy, an insurance marketplace for automotive retail operations, has changed its insurance agency name to Polly to better engage consumer audiences. The name change will take effect on March 2, 2022.
Polly’s technology is designed for use by automotive dealers and is now in more than 1,200 dealers nationwide, according to the firm. Polly allows customers to bundle auto insurance with their car purchase.
“We’ll be forever grateful to have started our journey as DealerPolicy, but looking ahead, it is time we align our brand with the unwavering commitment we have to our customers,” said Travis Fitzgerald, co-founder and CEO of Polly. ”
Polly Insurance is a licensed insurance agency with licenses to operate in the lower 48 states.
The new branding changes, including updates to all digital properties, will take effect on March 2, 2022. Polly will debut at the National Automobile Dealers Association Show (NADA) in Las Vegas in the North Hall, Booth #7009, from March 11-13.
Platform Dent.co Aims to Reduce Friction in Auto Body Repair Negotiations
A new mobile app that measures auto body damage is providing reports that repairers can share with insurance adjusters to assist in negotiating repair times. The product, Dents.co, is available for download on Apple’s AppStore.
Dents.co brings existing LiDAR technology into the automotive physical damage industry. The app pairs the laser-driven tech already present in iPhones and iPads with artificial intelligence to capture damages, allowing repairers to share the information with insurance adjusters for assessment. This technology promises to open the door to a standardized quoting process for body shops and insurers and to simplify he estimating process.
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