Avinew, the company reinventing auto insurance for the age of autonomous and semi-autonomous vehicles, is announcing $5M in seed funding. The investment was led by Crosscut, with additional participation from American Family Ventures, Draper Frontier, and RPM Ventures.
Avinew recognizes the safety benefits of new auto tech and is designing its insurance programs around vehicles equipped with advanced active safety features. Through Avinew’s proposed insurance solutions, consumers and fleets who own vehicles equipped with autonomous and semi-autonomous capabilities will have access to insurance that will reward them for using their vehicle’s safety features, and provide them with more value and superior customer experience. Currently, select vehicles from Tesla, Mercedes, Ford, GM, Nissan, Audi, Volvo and more will be eligible.
The company believes in providing consumers with insurance solutions that incentivize them to use features like Autopilot, Super Cruise, Co-Pilot 360, and ProPILOT Assist.