Crabi, a Mexican insurance startup, intends to shake up the Mexican auto insurance market using artificial intelligence by predicting driver behavior.
Dubbed an “insurtech startup,” Crabi aims to become a leader in car insurance in Mexico.
Crabi uses a “Fair Drive” model and personalizes auto insurance plans based on a person’s driving records, so drivers with a safe driving record could pay less than others with a not-so-clean record.
When this was written in 2019, Crabi’s website had yet to release any information on its products, so it was too soon to tell if its policies would be offered to non-Mexican citizens, but note that vehicles on Mexico's federal roads, routes and bridges must carry insurance covering damage to third parties (Ley de Caminos, Puentes y Autotransporte Federal, art. 63 Bis), and US and Canadian insurance is not proof of financial responsibility under Mexican law (Baja Bound FAQ).
Mexico has relied mostly on established insurance companies to write auto insurance policies.
One issue Crabi may have is determining exactly who is a safe driver and who is not, since a lack of infractions does not automatically make someone a safe driver.
It may push existing insurance companies to compete with these newer technology services.
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