Avinew

01 / WHAT IT BUILT

What the company did

Avinew was a California-based insurance technology startup that built insurance products for cars equipped with advanced driver-assistance and autonomous-driving features. Founded in 2016 by former Aon executive Dan Peate under the name Driav, the company used telematics data from vehicle sensors and driver-assistance systems - such as Tesla Autopilot, GM Super Cruise and Nissan ProPILOT Assist - to price policies and reward drivers for using autonomous safety features. Avinew raised $5 million in seed funding in January 2019 led by Crosscut, and in 2022 partnered with global insurer SiriusPoint, which provided fronting services, reinsurance and investment support while the startup operated as a managing general agent.

03 / EVENT HISTORY

Events in the structured record

1. 2016
   Founded as Driav

   Dan Peate founded the company in California under the name Driav, later renamed Avinew, to build insurance products for vehicles with autonomous and semi-autonomous capabilities.

2. 2019
   Seed funding and product pilots

   Avinew raised $5 million in seed funding led by Crosscut, with participation from American Family Ventures, Draper Frontier and RPM Ventures. The company completed proof-of-concept pilots with two insurers and brought on Tesla veteran Jeremy Snyder as chief operating officer ahead of launching in select US states.

3. 2022
   SiriusPoint partnership

   Global insurer and reinsurer SiriusPoint invested in Avinew and formed a strategic partnership, offering fronting services, reinsurance and strategic advice as Avinew operated as a managing general agent covering AI-enabled vehicles.