White Mountains Insurance Group has acquired a minority stake in Noblr, a San Francisco-based car insurance company that uses telematics data to give drives real-time rates based on their driving.
Noblr was co-founded by Gary Tolman and Jason Foucher, who together have over 60 years of property and casualty insurance experience.
Prior to this investment, Tolman resigned from his position on the White Mountains Board of Directors, a position he held since 2015.
"We will miss Gary's experienced voice on the White Mountains board, but we are excited to partner with him again in the Noblr endeavor. The board thanks Gary for his many contributions to White Mountains over the years," said White Mountains CEO Manning Rountree.
Before White Mountains, Tolman served as president and CEO of Esurance, a direct to consumer insurance company. He has also held senior executive positions at Talegan Holdings and Fireman's Fund.
Foucher previously served as vice president of insurance products at Metromile, where he helped develop and launch a US per-mile auto insurance product. He has also held senior roles at Esurance.
Noblr's first product offering is focused on personal auto insurance, providing real-time feedback to drivers.
"The Noblr team and I are very excited to bring this new company to life, offering consumers more control over what they pay for car insurance, and also, perhaps more significantly, more control over their relationship with their insurer," added Tolman. "We are pleased to have White Mountains' support, providing us with the additional know-how and financial support to scale quickly and intelligently."
Noblr also plans to launch in Colorado.
White Mountains, Investment, Noblr, Auto, Motor, North America, Bermuda