Insurers Can Use Driving Monitoring Tech to Determine Compensation for Accidents, Says Nexar Exec

Driving monitoring technologies can help insurance companies analyze accidents to determine compensation, according to Bruno Fernandez-Ruiz, co-founder and chief technology officer at car computer vision startup Nexar Ltd.

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Fernandez-Ruiz spoke Tuesday at a conference on innovation held jointly by Calcalist and events firm Connecting Leaders Club at the Mondial de l'Automobile auto show in Paris.

Nexar develops a mobile app that turns smartphones into dashcams capable of analyzing the car’s movements and collecting data from various users simultaneously in order to create a safer driving environment. The company was founded in 2015 and is headquartered in Tel Aviv, with additional offices in New York, San Francisco, and Las Vegas. Nexar has raised $45 million in funding to date from investors including Chinese e-commerce giant Alibaba Group Holding Ltd.