Answer Financial, an Encino, Calif.-based insurtech company, said it has launched the nation’s first telematics-based advertising network.
Answer Marketplace will connect insurance advertisers with millions of drivers through a network of publishers seeking to enhance their apps by tapping into one of the largest digital advertising segments in the United States, according to the company.
“For the first time in insurance history, through the Answer Marketplace network of mobile app publishers, advertisers are able to understand drivers’ risk and make smart, personalized offers to reach their ideal customers,” Answer Financial said in a news release.
Answer Marketplace is actively building out its network of driving, location and auto-related mobile app publishers, according to Answer Financial.
For mobile app developers with rich location data, Answer Marketplace “provides a unique opportunity for them to craft relevant, revenue-generating customer experiences.” Moreover, because users are logged in to the app and have completed a minimum number of trips before an ad is displayed, advertisers can overcome click-fraud concerns, according to the company.
“We’re proud to create an ecosystem that benefits drivers, insurance advertisers and app publishers all at once,” said Darren Howard, senior vice president and chief marketing officer of Answer Financial. “By connecting with a mobile app in the Answer Marketplace network, drivers will be empowered by new driving-based features in the apps they use and provided with insurance offers based on their driving behavior. Meanwhile, insurers can personalize offers based on actual driving, and publishers can enhance their app experiences while monetizing their apps in the competitive app economy.”
Advertising, served through Answer Marketplace, will be deeply integrated with app publishers to create a native app experience through which opted-in users can receive relevant offers personalized to their driving behavior, according to Answer Financial.
“Advertisers are able to reach high-intent customers with micro-targeted messaging and drive engagement of their desired customers, based on granular telematics data on users’ actual driving behavior and risk (rather than general demographics and proxies as most on the market offer),” the company said. “In addition, advertisers can layer in other bidding variables, such as geography and current insurance status, allowing insurers to reap the benefits of UBI, whether or not they currently offer their own UBI programs.”
Answer Marketplace is powered by Arity, Allstate’s data science and analytics company.