Intuit to Acquire Technology from Zendrive
Transaction will enable
Credit Karma members can choose to participate in a trial where they receive real-time feedback on their driving and can view potential discounts before purchasing a policy, all powered by telematics. Bringing discount opportunities to the front of the insurance shopping experience, before members purchase a policy, gives them more choice and certainty as to what they will pay, while incentivizing them to become safer drivers – always done transparently, with a member’s consent. Karma Drive’s telematics-driven model has yielded more than 4 million discounted policy offers for Credit Karma members, and has the potential to give carriers better visibility, with member consent, into driving behaviors that are more predictive of driving risk than traditional attributes, such as a driver’s credit score.
“Insurance costs have increased dramatically, and Americans are looking for ways to minimize driving expenses in this high-inflation environment,” said
Credit Karma has partnered with Zendrive since it launched
“Zendrive's mission is to make roads safer with data and analytics, and we pride ourselves on delivering experiences that help create awareness for safe driving habits,” said
Intuit’s mission is to power prosperity around the world and the company has committed to a Bold Goal of doubling the household savings rate of customers by 2030. Americans want to minimize driving expenses in this high-inflation environment, and this transaction deepens Intuit’s insurance investment to help Credit Karma members save big on insurance.
Intuit expects to close the transaction in Q4 FY24. Terms of the deal weren't disclosed.
Learn more on Credit Karma’s blog.
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About Intuit
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.
About Credit Karma
Founded in 2007, Credit Karma, an Intuit company (Nasdaq: INTU), is a consumer technology company with more than 130 million members in
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