EatSleepRIDE and Swiss Re Reimagine Motorcycle Insurance
TORONTO, CANADA, March 1, 2021
Privately held startup, EatSleepRIDE Mobile Inc. and leading global reinsurer Swiss Re are collaborating on an innovative solution to reduce motorcycle related injuries and make it easier to secure motorcycle insurance. The partnership, facilitated by Ontario’s Autonomous Vehicle Innovation Network (AVIN), led by the Ontario Centre of Innovation (OCI), utilizes EatSleepRIDE’s ESR safety platform to improve motorcyclists’ safety and ultimately reduce the rider’s risk of being in an accident.
Motorcycles play an important role in reducing traffic congestion and improving air quality which represent important challenges for our mobility. Studies show that by reducing the number of cars on primary and secondary road networks by 10% and replacing them with motorcycles, urban centres EatSleepRIDE can recognize a 60% decrease in congestion and approximately $500,000 in infrastructure time-benefit cost savings, per day. Making roadways safer and more accessible for motorcycle road users is critical to expanding transportation capacity and materially reducing commute times for everyone.
EatSleepRIDE (ESR) is reimagining the motorcycle experience with technology to help industry and governments make motorcycles a more connected, accessible and safer form of transportation. Through AVIN, the collaboration between EatSleepRIDE Mobile Inc. and Swiss Re received $804,583 in support from the Ontario government, with a further $1,611,875 in industry contribution, for a total project value of $2,416,458.
“ESR designed and developed AI technology by examining motorcycle safety using our proprietary crash detection technology. The system harnesses the power of real-time data to signal future collisions and provide feedback to riders. We’re able to create diagnostic windows into a person’s riding style to help them ride better, farther, safer. Now, our proprietary CRASHLIGHT, and Twist & Go™ software can become a key tool to bring insurance products to people in new ways.” said Marina Mann, CEO at EatSleepRIDE. “We will explore digital insurance products to give riders maximum freedom, accessibility and flexibility in insurance.”
“This innovative project with EatSleepRIDE harnesses the province’s leadership in artificial intelligence to improve road safety and connectedness for motorcycle riders,” said Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade. “Ontario’s Autonomous Vehicle Innovation Network is helping homegrown small and medium-sized technology firms to partner with leading industry players and advance their made-in-Ontario technologies to assist with our economic recovery and offer broader benefits for society.”
“This project led by EatSleepRIDE showcases the potential positive safety impacts that automated and connected vehicle technology developed here in Ontario can have on our roads,” said Caroline Mulroney, Ontario Minister of Transportation. “Congratulations to EatSleepRIDE for developing this innovative solution that demonstrates Ontario continues to be a hub for advanced automotive technologies and smart mobility solutions.”
EatSleepRIDE® Motorcycle GPS is a mobility software platform for motorcycle riders combining community, safety and wayfinding for an engaged, global motorcycle audience. Now, ESR’s technology could become a key tool for pricing motorcycle insurance without the reliance on historical or claims data.
About EatSleepRIDE (ESR):
ESR is an inclusive mobility company who, through its distinctive sensor processing technology, provides real-time, best in class, features and predictive safety technology specifically designed for two-wheelers.
Learn more about ESR’s proprietary motorcycle crash detection technology CRASHLIGHT® https://player.vimeo.com/video/505452269
EatSleepRIDE is tech startup with HQ in Toronto. Operating with the support of the Fifth Wave, MaRS AVIN, Communitech, and the Ryerson DMZ communities.
The Autonomous Vehicle Innovation Network (AVIN) is a Government of Ontario program, led by the Ontario Centre of Innovation (OCI) designed to reinforce Ontario’s position as a North American leader in transportation technology and infrastructure systems. Through resources such as research and development (R&D) support, talent development, technology acceleration, business and technical supports, and demonstration grounds, AVIN provides a competitive advantage to Ontario-based CAV companies.
Contact: Marina Mann, CEO Email: firstname.lastname@example.org