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Bengaluru (Karnataka) [India], June 25 (ANI/NewsVoir): InsurTech startup Kruzr, best known as a technology-powered smart driving assistant today announced that it has been recognized in Gartner's 2020 Cool Vendors in Insurance report as a NexGen technology solution for Motor Insurance.
This recognition is categorized cool since Kruzr has built a virtual assistant designed to reduce auto accidents by focusing on active, real-time driver engagement to reduce distractions and improve driver safety. The solution fuses phone and real-time data with driving conditions (including weather, traffic, speed limits) to provide more complete and contextual analysis and risk prediction. The real-time safety guidance also includes nudges for safer speeds based on traffic predictions and warnings on accident-prone zones.
Further, "Like most other telematics applications, Kruzr also calculates a risk score for drivers that can be used in insurer pricing, risk models and reward offerings," Gartner says.
The report titled "The Gartner Cool Vendors in Insurance, 2020" evaluates start-ups with innovative products and services in the insurance marketplace. According to the report, "Business ecosystems can help insurance companies deliver net new digital products and services. Vendors recognized in this research are known to target ever more specific parts of the insurance value chain to enable insurance companies to extend their reach beyond traditional insurance models."
"We at Kruzr are building a comprehensive driving risk measurement and driver assistance technology to help reduce accidents by at least 20 per cent. We partner with Insurers, Automobile OEMs, and Fleets to make our roads safer. This recognition is a strong validation of our vision for the insurance industry," said Pallav Singh, CEO of Kruzr.
Started by Pallav and Ayan, Kruzr is based out of California, USA, Munich, Germany, as well as Bangalore, India. The company is working with motor insurance companies in Europe, UK and India to bring its technology to their customers to prevent accidents and improve claims. Kruzr had raised its seed round led by Saama Capital with participation from Better Capital last year.
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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact.
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