Intuit’s products include TurboTax, Credit Karma, QuickBooks, and Mailchimp. Certain employees from Zendrive, including CEO Dennis Ellis and Co-founder and CTO Pankaj Risbood, will join Credit Karma to help accelerate the innovation and adoption of its usage-based car insurance product, Karma Drive.
Through the product, Credit Karma members can participate in a trial where they receive feedback on their driving and potential discounts when purchasing a policy, all powered by telematics. To date, Karma Drive’s telematics model has generated more than 4 million discounted offers for Credit Karma members.
Joe Kauffman, President of Credit Karma, stated: “Insurance costs have increased dramatically, and Americans are looking for ways to minimise driving expenses in this high-inflation environment. Karma Drive gives our members access to personalised discount offers based on safe driving habits, without first having to purchase a policy.
“With Zendrive’s technology and expertise, we strive to make usage-based auto insurance more accessible than ever and bring more transparency, fairness, and accuracy to consumer auto insurance pricing, while providing insight into their driving behaviors,” he added.
Zendrive has been partnered with Credit Karma since its launch over three years ago and has enrolled more than 6 million members.
Dennis Ellis, CEO of Zendrive, said: “Zendrive’s mission is to make roads safer with data and analytics, and we pride ourselves on delivering experiences that help create awareness for safe driving habits. Intuit’s customer-obsessed culture is a perfect match for our team. Together, we will democratize access to fair insurance for all Americans based on their driving habits, not their financial situation.”
Source: Yahoo Finance
