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With rise of e-scooters, Israeli startup Voom creates personalised AI-based Insurance tech

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Thursday, July 11th, 2019

Source: No Camels

In Tel Aviv, San Francisco, Washington D.C. and many more cities around the globe, e-scooters have been boosting our daily mobility. Yet, this new mode of transportation comes with a perilous downside. In 2018, more than 1,500 people were injured in e-scooter related accidents across the US, according to a recent study. In Israel alone, the number of deaths that involved personal electric vehicles rose from seven in 2017 to 19 in the following year, just when e-scooters pioneered the local market. 

Despite the risk, adequate insurance coverage for e-scooters and other personal transportation devices is missing. Enter Voom, an Israeli insurance platform for specialized mobility, that is developing an on-demand, telematics-based solution for “everything you can ride, fly or sail”.

The company – which recently closed a $5 million Series A funding round led by Arbor Ventures, with participation from F2 Capital, Verizon Ventures, Kaedan Capital, and Plug and Play Venture – aims to cover third-party liability, property and personal accidents for various modes of specialized mobility. This includes drones, small private planes, small boats, motorcycles or e-scooters, on an individual per-use basis. 

Read more here.