Adiona plans to disrupt the UK’s motor insurance market with its innovative AI and Machine Learning
by Startacus Admin
.png)
New UK Insurtech brand Adiona launches and reveals mission to use smart tech and data to provide fairer premiums and a better customer experience
.jpg)
A new technology-driven brand has just been launched in London with the aim of changing the model of how drivers in the UK are charged for motor insurance. Led by a number of global industry leaders, Adiona is on a mission to fix the ‘broken’ motor insurance market.
The team behind Adiona is one of the most diverse and experienced assembled within a startup company, with a combined 200 years of insurance technology experience between them. Its founder Paul Harvey is an international business figure with extensive experience in key leadership roles with Arma Partners, Bank of America, Goldman Sachs, and Morgan Stanley in the UK, Europe, and North America.
The company challenges the outdated legacy models used by many in the industry where policies are generally priced according to factors such as age, income, location, and occupation. Whilst using these traditional factors initially, Adiona’s focus will be different; its UBI model is supported by innovative technology to measure and base premium costs on how, where and when customers drive. Adiona’s digital platform will also enable it to provide both a better consumer experience and to significantly reduce the cost of policy administration, resulting in savings which will be passed on to customers.
Adiona CEO Paul Harvey explains; “Leveraging artificial intelligence (AI) and machine learning (ML) to analyse driving behaviour, and putting this all in the hands of the driver, ensures our customers will be treated fairly and can at last benefit from personalised premiums. Adiona is determined to be different. Our innovative technology represents the most scalable Insurtech IoT platform with the most advanced AI/ML analytics ever built by an InsurTech start-up team anywhere. Through an easy-to-use smartphone app, our customers’ motor insurance premiums will very quickly be based on how they actually drive, not who they are as a person, their level of wealth, their age, or where they happen to live.”
Adiona will initially focus on the UK motor insurance market before pursuing longer term opportunities across global P&C insurance markets.
It’s clear that with the combination of such an impressive team and such innovative technology, this is an insurtech that’s well worth keeping an eye on!
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
.jpg)
How to select your best ideas and take them forward - Chris Thomason, Founder of Ingenious Growth shares 5 tips to help you do just that.
Early stage VC fund Anamcara led by Female Solo GP Closes $10.6M Seed Fund to Invest in Founders Building Defining B2B Software Companies
Want to ensure your startup runs smoothly? Hamid Bagherzadeh, Legal expert and Co-Founder of LegaMart shares insights on the legal contracts that will help you do just that.
Koala, the innovative travel insurtech startup, secures investment to fuel its growth in Europe, expand its team and build additional travel protections.
The best early stage tech startups from across the UK revealed in Tech Nation’s final Rising Stars competition.
Over 100 organisations come together via The Micro Business Alliance to help provide a voice for the UK's startups, micro businesses and small businesses.
The lowdown on London-based hearing wellness startup Mumbli and its mission to help businesses provide inclusive spaces for all hearing abilities and preferences.
Tech Nation calls for tangible support to secure capital, talent, growth and exits needed to accelerate the growth of UK tech in decade ahead.
Glasgow-based This is Milk seeks investment for Neve Learning, its cloud-based Ed-Tech platform that has inclusivity and accessibility at its core.
.jpg)
With the UK facing a clear digital skills gap, Amy Caton, Digital Talent and Impact Senior Manager at BT Group shares some insights on what businesses should do to close that divide.
Published on: 13th September 2021
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Anamcara launches $10.6M seed fund to back new wave of business tech 30th Mar 2023 Early stage VC fund Anamcara led by Female Solo GP Closes $10.6M Seed Fund to Invest in Founders Building Defining B2B Software Companies
- Travel insurtech Koala raises €2m to accelerate its growth 29th Mar 2023 Koala, the innovative travel insurtech startup, secures investment to fuel its growth in Europe, expand its team and build additional travel protections.
- Tech Nation announces the 10 winners of its latest Rising Stars competition 29th Mar 2023 The best early stage tech startups from across the UK revealed in Tech Nation’s final Rising Stars competition.
- Micro Business Alliance launches to represent 75% of the UK’s businesses 28th Mar 2023 Over 100 organisations come together via The Micro Business Alliance to help provide a voice for the UK's startups, micro businesses and small businesses.
