HUMN
World’s first live vehicle data feed
FLEET INSURANCE – BUT SMART
A data-driven solution advancing on-demand insurance and future mobility.
Humn empowers fleet managers to control their own insurance exposure and enables insurers to implement dynamic pricing.
Insurtech Gateway supported humn from inception in 2019. Following along to their $10.1m Series A in October 2021. Aon acquired Humn.ai’s technology assets and the balance of the business went into administration in March 2024.
PROBLEM
Commercial motor insurance did not reward good driving behaviour. Insurers lacked visibility into real-time value at risk, and had to price according to averages.
SOLUTION
Humn’s RideShur product changed all that, with real-time individual risk scoring making the risk transparent.
The embedded real-time pricing and risk scoring engine can score events every 5 milliseconds and price insurance every 1 second. Giving fleets tools to nudge driver behaviour and manage losses, enabling insurers to price risk by the moment and delivering convenient, flexible, fair and functional insurance.
HUMN FOUNDERS
Mark Musson (CEO) – Previously: Nordea, HSBC & J.P. Morgan.
Peter Bousquet (Chief Revenue Officer) – Previously: GE, Lloyds & J.P. Morgan.
Chris Clarke (Chief Data Scientist) – Previously: HSBC & Nordea.
Alberto Romero (CTO) – Previously: Hortonworks, G-Research, Amlin & Lloyds.
“Partnering with the Insurtech Gateway has allowed us to throw away our Lonely Planet guide to insurance and travel some of the more remote routes of the industry safely and quickly, leaving us to do what we do best and saving us at least 10 months in getting to market with a wrapped insurance product.”
Mark Musson, CEO & Founder at Humn
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“When investing we look for great founders with transformational, scalable ideas, in large markets. Humn delivers on all these criteria, with 15 years of acquired skills in building technology solutions for investment banks capable of processing billions of bits of streaming data instantaneously.
They have applied their deep knowledge to the fleet motor market, which is entrenched in legacy practices and is seldom profitable for underwriters; Humn turns the underwriting model on its head, allowing risk to be priced on the actual risk and driving behaviour, rather than a simplistic ‘rear view mirror’ approach of historical burning costs.
The Humn technology proposition to fleet operators is equally compelling, reducing their own retained risk and operating costs as well as premium savings.
As shared ownership and usage, and eventually autonomous vehicles, become ubiquitous, the fleet motor space will be one area of the motor market to still be growing.”
Richard Chattock, CEO at Insurtech Gateway