The startup, which began operations in early 2022, has developed a driver registration analysis system that provides fleet operators - especially car rental companies - with a real-time report on the risk profile of each of the drivers who will use their vehicles. With this, Brick helps its customers reduce operational risk and prevent fraud, consequently reducing claims and making fleet insurance more affordable. Since its launch, the startup has been growing more than 30% per month, and already has more than 150 fleets in its customer base, totaling approximately 25,000 vehicles.
"By having access to the exposure of each of the vehicles and the risk profile of each of the drivers involved in the fleet, we were able to develop an artificial intelligence algorithm capable of analyzing the data, identifying potential fraud, and underwriting in real time. Our proposal is to price fleet insurance according to usage, as a sum of small risk episodes. To do this we mix historical data, real-time data, and predictive models. Affirms Vinicius Schroeder, CEO and Co-founder of Brick.
Insurtech's goal with the funding is to continue supporting rapid growth and create the necessary structure to operate as a MGA (Managing General Agency), where an established insurer lends its balance sheet and assumes the risks - leaving the startup responsible for pricing and selling the insurance.
"Starting a fleet operation in Brazil is an act of daring, and insurance is often one of the main obstacles. We want to expand access to fleet insurance with the use of technology and data, offering customers risk reduction tools linked to dynamic coverage and consistent with the real exposure of vehicles. - Schroeder adds.
The startup, which began operations in early 2022, has developed a driver registration analysis system that provides fleet operators - especially car rental companies - with a real-time report on the risk profile of each of the drivers who will use their vehicles. With this, Brick helps its customers reduce operational risk and prevent fraud, consequently reducing claims and making fleet insurance more affordable. Since its launch, the startup has been growing more than 30% per month, and already has more than 150 fleets in its customer base, totaling approximately 25,000 vehicles.
"By having access to the exposure of each of the vehicles and the risk profile of each of the drivers involved in the fleet, we were able to develop an artificial intelligence algorithm capable of analyzing the data, identifying potential fraud, and underwriting in real time. Our proposal is to price fleet insurance according to usage, as a sum of small risk episodes. To do this we mix historical data, real-time data, and predictive models. Affirms Vinicius Schroeder, CEO and Co-founder of Brick.
Insurtech's goal with the funding is to continue supporting rapid growth and create the necessary structure to operate as a MGA (Managing General Agency), where an established insurer lends its balance sheet and assumes the risks - leaving the startup responsible for pricing and selling the insurance.
"Starting a fleet operation in Brazil is an act of daring, and insurance is often one of the main obstacles. We want to expand access to fleet insurance with the use of technology and data, offering customers risk reduction tools linked to dynamic coverage and consistent with the real exposure of vehicles. - Schroeder adds.
The startup, which began operations in early 2022, has developed a driver registration analysis system that provides fleet operators - especially car rental companies - with a real-time report on the risk profile of each of the drivers who will use their vehicles. With this, Brick helps its customers reduce operational risk and prevent fraud, consequently reducing claims and making fleet insurance more affordable. Since its launch, the startup has been growing more than 30% per month, and already has more than 150 fleets in its customer base, totaling approximately 25,000 vehicles.
"By having access to the exposure of each of the vehicles and the risk profile of each of the drivers involved in the fleet, we were able to develop an artificial intelligence algorithm capable of analyzing the data, identifying potential fraud, and underwriting in real time. Our proposal is to price fleet insurance according to usage, as a sum of small risk episodes. To do this we mix historical data, real-time data, and predictive models. Affirms Vinicius Schroeder, CEO and Co-founder of Brick.
Insurtech's goal with the funding is to continue supporting rapid growth and create the necessary structure to operate as a MGA (Managing General Agency), where an established insurer lends its balance sheet and assumes the risks - leaving the startup responsible for pricing and selling the insurance.
"Starting a fleet operation in Brazil is an act of daring, and insurance is often one of the main obstacles. We want to expand access to fleet insurance with the use of technology and data, offering customers risk reduction tools linked to dynamic coverage and consistent with the real exposure of vehicles. - Schroeder adds.
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