What:
Mapmaker and location technology specialist TomTom will support Loop, the community-driven auto insurance provider, on providing fairer priced auto insurance rates.
Why:
Rather than relying on a driver’s credit and other financial proxies such as homeownership and educational attainment, this AI-driven approach will help establish fairer and more transparent auto insurance prices.
How:
- Loop will use TomTom’s maps and traffic data to better understand driver behavior and road risk.
- TomTom’s maps and traffic data will also enable Loop’s artificial intelligence product to monitor driving behavior in real time and provide suggestions for safer driving, even rerouting drivers away from roads that are high-risk for car accidents.