Nomi wants to make insurance fair

Nomi, the Singapore-based startup that’s looking to make insurance fair, has secured its first round of funding.

Founded in 2020 by Guiam Wainwright and Arthur Wandzel, Nomi describes itself as an AI assistant similar to an Alexa that sees the road and driver via a dual facing dashcam. Through an app, Nomi coaches drivers on how to drive safer and after analyzing driver risk, the startup claims that users can see their insurance premiums drop by up to 40%.

Nomi offers individuals two subscription options with one main difference – the cost. Users who choose to subscribe to Nomi via one of their insurance partners won’t have to pay anything, while those who decide to buy the dashcam without insurance will end up paying ~$40 per month. With both options users get professional installation at a place and time of their choosing, AI coaching, “unique” trip advice to avoid traffic and stay safe, rewards and incentives, as well as Nomi Sentinel and Nomi Protect, services that help safeguard the car and contact first responders in the event of an accident.

The startup, which states that it works with the largest insurance companies in the world, is currently available in Singapore and Malaysia and plans to launch in Europe and US this year.