By ET Bureau - October 08, 2019 1 Mins Read
CarLabs.ai, the leading AI-powered automated chat solution provider for auto brands, announced that Alan Bauer has joined the award-winning start-up as an investor and member of its Board of Directors.
Alan Bauer is well known for how his work changed the way automobile insurance is sold and underwritten. During his time at Progressive Insurance, he created the industry’s first website, launched the first use of the now near-universal use of credit scoring in rate making, and made the world’s first internet-only sale of auto insurance.
While President of Progressive Direct, the company’s direct business grew from $1.3 billion to $4.3 billion, while consistently beating target margins. By the time Bauer left Progressive, the company had become the nation’s third-largest auto insurer.
He is the lead patent holder for some of the first patents awarded for both internet insurance and for UBI. In 2011, he was named as one of the “Top Ten Innovators of the Decade” by Insurance and Technology Magazine.
“We are lucky to have someone as accomplished as Alan on our team to help us both grow as a profitable business but also continue to innovate,” said Martin Schmitt, CarLabs.ai co-founder, and CEO.
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