Automatic Labs

insurtechiot-preventive insurance/telematics

STATUS: Acquired/Merged
FOUNDING YEAR: 2011
LOCATION: South Africa
Last Update: 01/05/2020

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About

Automatic, a SiriusXM company, empowers drivers with knowledge about themselves and their cars so they can worry less whenever they hit the road. We believe you shouldnt have to buy a new car to have a better driving experience, and that Automatic can bring the future of driving to todays automobiles. With Automatic's low-profile, install-it-yourself adapter and mobile app, most vehicles model year 1996 or later can be transformed into connected vehicles. Automatic helps customers drive safer and smarter with applications that diagnose engine trouble, detect accidents, send emergency response when needed, save money, and more.Acquired by SiriusXM in 2017, weve evolved into a connected vehicle service with the infrastructure and capabilities to deliver Automatic across several distribution channels. We are based in San Francisco, but our team comes from every corner of the world. We obsess about creating beautiful and well-engineered products to deliver a service platform that makes a real difference in peoples lives. Were big on ideas, low on ego, and love working together.

MEDICI Analysis

Automatic is a cloud-based platform that provides apps for drivers to understand driving behaviour. It provides services including crash alerts, driving behaviour, parking location, engine diagnoses, emergency requests, fuel warning, etc.

Focus

PRODUCTS & SERVICES

Connected car app for driving behaviour inormation to insurers.

REVENUE MODEL

The company earns revenue by charging for its product: Automatic Lite: $79.95 and Automatic Pro: $129.95

MAIN CLIENTS

Individuals

Drivers

Insurance firms

EXISTING PARTNERSHIPS

Recently

the company partnered with AmFam to help drivers stay safe and reduce their insurance costs. The company has partnered with CDK Global

repair shops

and other automotive businesses to maintain and grow their relationships with customers. Other partners are Ford

UASS and AAA.

Traction

VALUATION / MARKET CAP:

$160 M in 2015

OTHER INFO:

AmFam and Automatic are jointly developing new integrations, such as roadside assistance and claims submission to be handled within Automatic’s app(Feb 2017).

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