KarChing Inc

InsuranceIllinois, United States2-10 Employees

Distracted driving is a persistent traffic safety issue that has become more prevalent with smartphone usage.  In fact, distracted driving is now commonly referred to as the “new drunk driving.”  KarChing is addressing this crucial social issue and working with parents and insurance companies by making it our mission to reduce smartphone-related distracted driving by pioneering a tangible, cash-based incentive program for teens.

KarChing is Mobile platform that creates an economic bridge between parents, teens and insurance companies.  We aggregate all funds in the “Teen driving equation” and use them to modify and reward safe teen driving habits. 
Our unique and patented payment platform converts todays insurance “discounting” trend into direct cash payments to teens for safe driving habits, all on a trip-by-trip basis.  

HOW IT WORKS:
1. Drivers and parents download the KarChing app.

2. DRIVERS can monitor their phone habits and cash-in for being safe drivers. KarChing will offer teen drivers a KarChing cash/debit card that is directly tied into their “driving scores,” which are measured using industry-standard telematics-based data scoring.

 For example, the drivers’ speed of acceleration, hard braking and cornering speed does affect their telematics insurance score, but the gauge of how much or little they touch their keyboards is the main driver of the “KarChing hybrid driving safety score.”  

3. Teens and parents set their safe-driving goals and rewards and if teens meet those goals, they receive their weekly cash rewards . 

4. Teens also have the option to use their cash/rewards to make purchases within the KarChing shopping portal.

5. PARENTS can use the KarChing app to get peace of mind by getting real-time patterns and driving activities of their kids, all while rewarding them for not using their phones while driving.

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