AutoConnexa, an Italian Insurtech start-up that innovates in the field of car insurance, lands in the world of comparators thanks to its partnership with Segugio.it. In an increasingly competitive market environment, where customers demand transparency and customised solutions, AutoConnexa offers its advanced telematics technology, designed to offer dynamic and flexible motor insurance policies.
With a discreet and compact proprietary device and customisable app, AutoConnexa collects data on drivers’ driving styles and integrates it with gamification elements that reward virtuous behaviour. An innovative algorithm transforms this information into personalised insurance rewards, providing customers with an enhanced experience and incentivising safer driving.
AutoConnexa acts as a Managing General Agent (MGA), working with traditional insurance companies to help them innovate and access alternative distribution channels. With a flexible and data-driven structure, the start-up addresses the challenge of accessing mobility data from different sources, such as the connected car itself, the device or other devices in the vehicle.
“Despite the fact that cars are increasingly connected, insurance companies are failing to exploit the potential of data to create customised policies,’ explains Robin Daina, CEO of AutoConnexa (pictured), in a note. ‘This is a huge problem that represents, at the same time, a huge opportunity, and this is where we decided to take action.
In addition to the distribution partnership with Segugio.it, AutoConnexa also boasts collaborations with other prominent partners such as Compass. The start-up has also attracted investors including CDP Venture Capital, which together have invested EUR 2.2 million in the company.
He also invested in AutoConnexa, Jamie Brown, the entrepreneur who brought Direct Line to Italy and was its CEO for 15 years, making it the country’s largest direct car insurance company, says: “I invested in this project right from the start and have seen Connexa grow and evolve at a very fast pace. Robin has put together a winning idea with a great team: everything it takes to make Connexa a leading company on the Italian insurance scene, but not only’.
Carlo Francesco Dettori, investor and CEO of Insurance Arena, adds: ‘I have invested in AutoConnexa from the very beginning because I have always believed in the value of the team and its ability to innovate in a complex market such as motor liability. The results achieved so far are perfectly in line with this choice’.
The expansion of the insurtech market confirms the potential of AutoConnexa. According to the Italian Insurtech Association, 2024 will be a record year, with investments estimated at EUR 50 million for artificial intelligence-based solutions, a figure that could grow to EUR 90 million in 2025 and EUR 140 million in 2026.
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