Fairmatic raises $46M to bring AI to commercial car insurance

Insurance fees are also increasing as a result of inflation, which has led to an increase in labor, repairs and claims. According to Bankrate.com, car insurance rates have risen 13.7% in the last year. Policygenius reported that home insurance premiums rose 12.1% in the past year.

Jonathan Matus says that this doesn’t need to be the case. He is the founder of Fairmatic. According to Matus, the company uses AI to reduce the risk in the auto insurance industry.

Matus founded Zendrive in the past, a platform which provides enterprises with insights for car insurance claims and underwriting as well as roadside support. Zendrive focuses on personal and family insurance, while Fairmatic is more commercial in nature. Its customer base consists primarily of business.

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Fairmatic raises $46M to bring AI to commercial auto insurance