Fairmatic Appoints Boaz Ram as Vice President of Product
Insurtech 2.0 leader Fairmatic continues to strengthen its unique AI-powered commercial auto insurance offering with the appointment of seasoned technologist Boaz Ram to lead the company's product vision and innovation.
Fairmatic, an insurtech 2.0 startup redefining commercial auto insurance by rewarding safer fleets with savings, today announced Boaz Ram's appointment as Vice President of Product. In this role, he will spearhead the company's product management, design, and marketing teams.
Fairmatic has created a new commercial auto insurance category with its AI-driven underwriting approach that unlocks continuous savings opportunities for fleets. By providing an easy way to monitor driving events and offering actionable safety improvement tips, Fairmatic is giving fleets more proactive control over their risk management approach and premium savings.
"We are proud and excited to add Boaz to the company's ranks. His rich experience in managing and launching innovative products will be fundamental in Fairmatic's growth and expansion in the US and other markets. Delivering a new commercial auto insurance option designed to help make roads safer and reduce injuries is more important than ever. As we continue to work towards scaling an insurance product that wasn't historically possible, having Boaz at the helm of product innovation reflects our commitment to strengthening our AI and data science team in Israel while ensuring the fulfillment of a mission designed to have a global impact." -- Jonathan Matus, CEO and Founder at Fairmatic
Boaz brings nearly two decades of experience managing product strategy and growth in leading technology companies to his new role at Fairmatic. Most recently, Boaz served as the VP of Product Management at Bizzabo and VP of Technology Partnerships at Datorama, a Salesforce company. He also has extensive experience leading product teams at Adobe and Yahoo. He holds a bachelor's degree in information systems engineering from Ben Gurion University.
"Leading Fairmatic's product team is an extremely exciting and unique opportunity to forge a path for insurtech 2.0 innovation and make a long-lasting impact in an industry that has historically struggled with successful and scalable tech adoption. As new technologies like AI and machine learning continue to proliferate, the insurance industry and the customers we serve, need a smart and reliable option designed to analyze risks in a more personalized manner through telematics data and enable better business outcomes through safer driving. Fairmatic's proven model is uniquely positioned to continue solving this massive gap, and I'm looking forward to being a part of the team responsible for ensuring we continue to deliver a unique product that solves our customers' pain points." -- Boaz Ram, VP of Product at Fairmatic
In the last year since Fairmatic came out of stealth, the company has raised $88 million in venture capital, onboarded hundreds of thousands of drivers to its platform, and observed an average of 25% safety improvement among its fleet customers. Fairmatic has also been recognized as one of the most promising global fintech companies in CBInsights' sought-after Fintech100 list for 2023.
Fairmatic introduced a new commercial insurance category by delivering the first data-driven fleet insurance that rewards safety with savings. Fairmatic’s new approach leverages AI-powered technology in combination with deep telematics data to drive meaningful cost savings for fleets by valuing responsible driving leading to safer roads. The Fairmatic underwriting model has been trained and tested with over 200 billion miles of driving data to help fleets proactively manage safety issues with actionable insights.
Founded by Jonathan Matus, a serial technologist who helped launch Android and Facebook mobile, Fairmatic is fundamentally reimagining commercial auto insurance from the ground up to make roads safer one fleet at a time. Fairmatic has raised a total of $88M from Battery Ventures, Foundation Capital, Aquiline Technology Growth and insurtech, fintech and technology investors, including Jerry Yang, Oren Zeev, and Bill Tai. The company has been recognized as one of the most promising global fintech companies in CB Insights’ sought-after 2023 Fintech100 list.