Fairmatic raises $46M to bring AI to commercial auto insurance

With inflation sparking an increase in the cost of repairs, labor and claims, fees for insurance are similarly spiking across the board. Car insurance premiums rose 13.7% nationally over the past year, according to a study from Bankrate.com. Home insurance, meanwhile, climbed 12.1% year-on-year, Policygenius found. But Jonathan Matus argues that it doesn't have to be that way. He's the founder of Fairmatic, a company that's applying AI to -- at least according to him -- reduce risk in the car insurance industry.