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Rooster Insurance
Car insurance for safe drivers
- 1-20 employees
- Fintech
- Artificial Intelligence
- Insurance
- Mobile
- London, UK
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Company mission
Rooster is a new App based insurance company. Founded to offer fairer priced car insurance to safe drivers in their 20’s & early 30’s. Unlike traditional insurers Rooster uses driving behavioural data rather than demographic data, collected pre quote to more accurately predict/price risk. By cherry picking lower risk drivers only, Rooster offers discounts of up to 40% to safe drivers.
25% female employees
Our take
Rooster's aims to provide an alternative to traditional insurers who base their premiums on demographics rather than driving data. Good drivers are pooled with bad, effectively subsidising the costs of their claims. Rooster is powered by smartphone technology, driving behavioural data and computer science to set prices based on how people actually drive. Users download the app, take a test drive and get a quote based on how they drive.
By not insuring bad drivers, Rooster doesn’t have to rely on large pools and pay out for bad drivers claims, thus good drivers can save up to 40%.
Rooster's assessment of good driving, based on machine learning and artificial intelligence, is crucial to the success of their business model. Its reliability will be tested as more users with different driving experiences (who may consider themselves as ‘good drivers’) try out the product.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- 28 days holiday (excl. bank holidays)
- Work from home opportunities
- Health insurance
- Car insurance policy (at cost)
Leadership
Richard Tucker
(CEO)Serial tech entrepreneur and CEO in disruptive technology and internet related businesses