LOS ANGELES, Oct. 8, 2019 /PRNewswire/ -- CarLabs.ai, the leading AI-powered automated chat solution provider for auto brands, announced today that Alan Bauer has joined the award-winning start-up as an investor and member of its Board of Directors.
Alan Bauer is well known for how his work changed the way automobile insurance is sold and underwritten. During his time at Progressive Insurance, he created the industry's first website, launched the first use of the now near universal use of credit scoring in ratemaking, and made the world's first internet-only sale of auto insurance.
While President of Progressive Direct, the company's direct business grew from $1.3 billion to $4.3 billion, while consistently beating target margins. By the time Bauer left Progressive, the company had become the nation's third largest auto insurer.
He is the lead patent holder for some of the first patents awarded for both internet insurance and for UBI. In 2011, he was named as one of the "Top Ten Innovators of the Decade" by Insurance and Technology Magazine.
"We are lucky to have someone as accomplished as Alan on our team to help us both grow as a profitable business but also continue to innovate," said Martin Schmitt, CarLabs.ai co-founder and CEO.
Since leaving Progressive, Bauer has been active as an investor and consultant, including being the External Senior Adviser for auto insurance at McKinsey and Co. He is beginning his tenth year as a Trustee of his alma mater, Carleton College. He earlier served on the Wikimedia (parent of Wikipedia) audit committee.
"I'm excited to join this smart and aggressive team in navigating this next generation of offerings to the consumer in this important space," said Bauer.
CarLabs.ai, headquartered in Calabasas, California, is the auto industry's first AI-powered, conversational engagement platform to successfully automate and personalize sales and customer service via chat on social channels, websites, voice and other messaging channels. Its conversational platform allows consumers to interact directly with an automotive brand's data and digital assets as if they were talking to a human via a 1:1 chat/voice interface. It recently won the 2019 Frost & Sullivan Technology Innovation Award for Advanced Automotive Conversational Platform. To learn more visit www.carlabs.ai and follow-us on LinkedIn, Twitter, Facebook and YouTube.