AV Monitoring Product Unveiled
Feb. 20, 2019—Dan Peate created Avinew, which is an insurance product that will monitor a driver's use of autonomous vehicle features on cars made by Nissan, Ford, Tesla and Cadillac and determine discounts based on how the feature is used, reported Insurance Journal.
Peate created the product with $5 million in seed funding led by Los Angeles' Crosscut Ventures.
Avinew has agreements with most manufacturers, and is working to tie up the rest, Peate said, allowing it to access driving data once a customer gives it permission.
With more than 90 percent of accidents caused by human error, taking the driver out of the equation is going to mean big changes for insurers, according to the report.