Kruzr is positioned as the world’s first technology powered smart driving assistant and is designed to automate driver safety.
Kruzr is positioned as the world’s first technology powered smart driving assistant and is designed to automate driver safety. This preventive motor insurance technology helps insurance companies personalise policy premiums and improve their risk model by delivering an engaging preventative driving assistant to their customers. The mobile app automatically detects driving and begins to play the role of your driving assistant. It filters out all important calls and messages, thus reducing distraction while driving, one of the major causes for road traffic incidents.
Recently, this insurtech startup raised $1.3 million in its seed round from investors led by Saama Capital with participation from Better Capital. Kruzr is founded by Pallav Singh, Ayan, and Jasmeet Singh Sethi. The funds raised will be utilised to grow the technology team, scale the product, and expand the business in Europe and UK. “We were very impressed by the founding team’s vision for Kruzr and their significant customer progress in the European automobile insurance market. We believe the founders can build a world-class product company out of India serving this sizeable and growing global market,” said Suresh Shanmugham, managing partner, Saama Capital.
Kruzr blends the power of voice technology and artificial intelligence in its personal driving assistant that helps drivers minimise mobile distractions, drowsy driving, speeding and external risks like weather and accident-prone zones. In pilots with insurers, Kruzr managed to cut down distracted driving by 80%. Kruzr is working with motor insurance companies in Europe, UK and India to bring its technology to their customers to prevent accidents and improve claims.
“Road accidents cause over 1.3 million deaths globally every year, and motor insurance companies lose billions of dollars due to this. However, more than 75% of accidents are actually preventable with timely driver assistance. We are building technology to minimise these accidents and help make motor insurance truly preventive and customer-centric.” says Pallav Singh, co-founder and CEO, Kruzr.
“Kruzr is leveraging the latest advances in mobile, Big Data, and AI to build a unique preventive driving technology that will save lives and help motor insurance companies design personalised policies. I’ve watched the Kruzr team learn and iterate to build traction with top insurers and am excited about the future ahead,” said Vaibhav Domkundwar of Better Capital.