(Image source: Sensa homepage.)
Sensa, an Austin, Texas-based InsurTech distributor billing itself as the first proactive insurance company, has announced a partnership with Incline P&C Group (Austin, Texas) to provide its personal auto insurance offering. A Sensa statement says that the company will act as an MGA to offer its product through an exclusive network of appointed retail brokers and agents who know the business and have aligned priorities countrywide.
Sensa describes its auto insurance product as combining a proprietary sensor and first-notice-of-loss accident notification systems with enhanced underwriting and risk selection processes. Activated only when the force of impact indicates a collision, the sensor automatically detects an accident and precisely analyzes damages and injuries, ensuring the right assistance is dispatched quickly to the scene, a company statement says. Sensa offers policyholders personalized, professional help in real-time, 24/7 via Sensa’s support team, and lifesaving support is provided when needed, from the scene of any accident. The company says that able to respond while a loss event is unfolding equips Sensa with the real-time situational awareness required to reduce damages and ultimately insurer and reinsurer loss ratios.
Acrisure Re was the appointed reinsurance broker on the transaction and facilitated both the insurance and reinsurance support for Sensa and Incline P&C Group, the Sensa statement says. Sensa describes the reinsurer panel as being composed of highly rated, blue-chip reinsurers.
“We are excited to welcome Sensa onto the Incline P&C’s carrier platform,” comment Chris McClellan, President, and CEO, Incline P&C Group. “Sensa provides exceptional industry and coverage expertise, and we are thrilled to assist in bringing their depth of transportation insurance offerings available to American drivers.”
Disruption through Added Value
“No one should be alone during a car accident,” says Itay Bengad, CEO and Cofounder, Sensa. “Revolutionizing the insurance industry cannot be limited to selling products that are faster or more convenient. True disruption comes from insurance products that provide additional value and give more to policyholders when it matters most. Sensa gives more to everyone in the insurance value chain, from retail brokers to reinsurers alike.”
Sensa reports that its technology was successfully beta tested in Europe and reached over 35,000 satisfied policyholders in the last year alone. Throughout this period, 94 percent of loss events were proactively managed within the first few minutes of a loss event, the company says.
Sensa’s U.S. launch kicked off in Illinois earlier this month, with the company saying that Texas, Indiana, and Ohio is scheduled for the coming weeks and a rapid rollout coming to the rest of the country soon. Sensa says it will introduce additional proactive insurance offerings, with home insurance scheduled to launch later this year.