Noblr, which bills itself as “a next-generation car insurance company,” announced its Colorado launch.
“Noblr is a new kind of car insurance that aims to create friendlier roads by rewarding customers’ good driving behaviors with real-time competitive rates,” the company said in a news release.
Noblr said it’s built on a reciprocal exchange model, where customers are members who help drive the company forward.
“With a dynamic population of people who are on the go and who care about making our world a better place, Colorado is the perfect location for Noblr’s launch,” said Gary Tolman, Noblr CEO and co-founder. “We believe that it’s time to leverage the latest technology to make insurance a lot fairer and more transparent for the benefit of good drivers and our communities.”
Noblr’s behavior-based pricing is calculated in real time and measures how well and how much someone drives. Good drivers could save up to 51%, according to the company. Noblr’s mobile app and “highly personalized pricing model” help directly incentivize better driving.
“While other companies take a more generalized and less transparent approach, Noblr members pay for insurance based on what they actually do,” the company said. “Thanks to Noblr’s proprietary technology, Noblr drivers who drive better can lower their rates and make the roads friendlier every trip they take.”
Noblr’s customer-centric approach is driven by its reciprocal exchange insurance structure.
“True to the saying ‘the customer knows best,’ we feel that our members are integral to us not only as users of our product, but as active partners in our company,” Tolman said. “Our community of responsible drivers will earn price savings and create safer roads together.”
Noblr will launch in other states in the coming months, the company noted.