VOOM Insurance CEO and co-founder Tomer Kashi explores the evolution of usage-based insurance (UBI) within the specialized mobility sector. As an InsurTech MGA, VOOM addresses underserved markets including commercial drones, light aircraft, motorcycles, and ATVs by leveraging data points that traditional carriers often overlook. A central innovation is their pay-per-mile motorcycle product, which utilizes simple odometer photos to provide fair pricing for episodic riders who primarily use their vehicles for weekend recreation. Kashi highlights how a "born-in-the-cloud" policy administration system allows the company to integrate new mobility platforms—such as e-scooters and autonomous delivery vehicles—much faster than incumbents hampered by legacy IT systems. By focusing on high-risk, episodic usage segments where competition is lower, the company maintains healthy loss ratios while providing meaningful economic value to consumers who would otherwise be overcharged by flat-rate annual premiums.
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