ZENDRIVE BOLSTERS LEADERSHIP TEAM TO MANAGE GROWTH, SPINS OUT COMMERCIAL INSURANCE START-UP

Co-founder Pankaj Risbood appointed CEO to handle subsequent development section

Co-founder Jonathan Matus turns into Zendrive Chairman and CEO of Fairmatic

SAN FRANCISCO, Aug. 31, 2022 /PRNewswire/ — Zendrive , the insurance coverage {industry}’s chief in Mobility Threat Intelligence, in the present day introduced the spin-out of a brand new business insurance coverage firm, Fairmatic, which is leveraging the corporate’s information to rewrite the enterprise mannequin of business fleet insurance coverage. With Zendrive bucking {industry} developments with 5 further shopper apps not too long ago added to its community, co-founder and Chief Expertise Officer (CTO), Pankaj Risbood has been appointed as the brand new Chief Govt Officer (CEO) to handle the corporate’s subsequent development section because it eyes different company growth alternatives, with Co-founder and CEO Jonathan Matus transitioning to Chairman of the Board and founding CEO of Fairmatic.

Since its inception, Zendrive’s main Mobility Threat Intelligence (MRI) platform has analyzed over 200 billion miles of information gathered from a whole lot of hundreds of thousands of customers throughout the globe. It has additionally detected a whole lot of hundreds of real-world collisions, making it the world’s most correct and strong smartphone-centric telematics supplier and a serious drive in saving lives on the street.

Risbood has been assuming broader company obligations because the starting of this 12 months, he now formally assumes the title of CEO. Beneath his management, the corporate has added 50M customers to its community within the US alone. His background in main engineering and development at Walmart and Google positions him properly to take Zendrive by its subsequent development section.

“I am delighted to be taking on as CEO to assist the corporate increase additional by providing tailor-made options throughout the whole buyer insurance coverage lifecycle,” stated Pankaj Risbood, co-founder and CEO. “Our imaginative and prescient stays to assist make insurance coverage fairer and smarter by our companions whereas making roads safer for customers. We are going to announce extra company growth initiatives and partnerships within the coming months.”

“With Zendrive’s success in remodeling insurance coverage information and analytics, I am now targeted on remodeling one of many greatest sectors, business insurance coverage,” stated Jonathan Matus, co-founder, and Chairman of the Board. “I go away Zendrive in Pankaj’s extraordinarily succesful arms and sit up for continued development and success for Zendrive and Fairmatic.”

Zendrive is powered by the world’s largest and fastest-growing proprietary mobility information set, which contains over 200 billion miles of analyzed information thus far—and scores driving

traits utilizing industry-leading AI and machine studying algorithms. The corporate’s AI platform allows smartphone-centric driving habits options able to producing threat fashions 10x extra predictive of threat than {industry} requirements whereas informing customers about their driving habits and delivering suggestions by way of smartphone apps

” Zendrive continues to leverage its industry-leading platform to develop new enterprise fashions whereas staying core to its mission of constructing driving safer for all of us,” added Brian Yee, Accomplice at ACME Capital and board member of Zendrive. ” Given the traction and scale of Zendrive’s insurance coverage enterprise, we felt it was the suitable time to spin out Fairmatic to maximise worth for each firms.”

For extra details about Zendrive, go to Zendrive.com 

About Zendrive

Zendrive’s mission is to make roads safer by information and analytics. Its award-winning Mobility Threat Intelligence (MRI) platform — powered by 200 billion miles of information gathered from 100s of hundreds of thousands of drivers throughout the globe — helps insurers perceive and mitigate mobility threat, lowering the chance of collisions by 49%. The platform additionally helps insurers discover and purchase most popular threat drivers by Zendrive’s huge writer community with entry to a whole lot of hundreds of thousands of customers. With an enticing take a look at drive expertise, collaborating shopper functions ship financial savings to their prospects whereas additionally diversifying income streams. The corporate has been acknowledged as one among Quick Firm’s Most Modern Corporations and gained the 2017 Greatest Startup in San Francisco award.

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ZENDRIVE BOLSTERS LEADERSHIP TEAM TO MANAGE GROWTH, SPINS OUT COMMERCIAL INSURANCE START-UP

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