28 Jan MIT Spinout Insurify Raises $2 Million To Replace Human Insurance Agents With A Robot
Insurify, a startup out of MIT, today announced the launch of Evia (Expert Virtual Insurance Agent), an artificially intelligent virtual insurance agent that aims to find you better car insurance using a photo of your license plate.
The company recently pulled in $2 million in seed from Rationalwave Capital Partners to create EVIA and launch its robo-agent platform.
“We barely have time to talk to our friends on the phone, nevermind insurance agents. Yet buying insurance is still as bad as buying an airline ticket was 15 years ago, often requiring 40 minutes on the phone with an agent,” Insurify CEO Snejina Zacharia told TechCrunch about why she started the business.
It’s a similar idea to Coverhound, which compares car and property insurance from data on its site as well as Google’s insurance research to bring you a quote it thinks you’ll like.
However, Insurify simplifies the way it gets you that quote by asking you to snap a photo of your license plate and text it to EVIA. The robo-agent then scours millions of records to verify personal information and driving history and then delivers policy quotes and recommendations back to you via text message.