Zendrive Partners with MoneyLion to Help Millions Save on Auto Insurance

MoneyLion leverages Zendrive’s Insurance Qualification Lens (“IQL”) solution to unlock insurance savings for customers

SAN FRANCISCO, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Zendrive, a mission-driven company making roads safer with data and analytics, today announced its partnership with MoneyLion Inc. (“MoneyLion”) (NYSE: ML), the go-to destination for personalized financial content, products, and advice. Zendrive is powering MoneyLion’s offering, giving their millions of users a chance to save on their auto insurance with safer driving behavior.

MoneyLion customers can access the program using the MoneyLion app. Once MoneyLion customers opt into the program, Zendrive’s embedded Software Development Kit (SDK) analyzes how users drive during a short test drive experience. During this trial period, users get direct feedback on their driving behavior (i.e., on whether they’re checking their phones or hard braking frequently), which could help them drive safer and boost their chances of earning a discount on auto insurance. Once the test drive is complete, MoneyLion customers that meet the qualification criteria may immediately qualify for an exclusive discount from partner auto insurance offers through Zendrive’s Insurance Qualification Lens (“IQL”) solution.

News of MoneyLion and Zendrive joining forces aligns with a recent announcement that Zendrive is expanding its IQL solution to over 50M consumers through these types of partnerships with leading US consumer apps. “At Zendrive, we’re thrilled about extending our IQL program to millions of US consumers through our partnership with MoneyLion, helping drivers across states get an exclusive opportunity to be rewarded for their safer driving habits,” said Dennis Ellis, President of Zendrive.

The partnership with Zendrive helps MoneyLion further its mission – to rewire the financial system so every customer can live their best life without worrying about money – by leveraging data to make insurance fairer and more affordable. “MoneyLion is changing the mindset and culture around money, empowering our customers to take control of their finances and better their future,” said Tim Hong, Chief Product Officer at MoneyLion. “With Zendrive, we’re taking a big stride toward that effort by making auto insurance more affordable for our users nationwide.”

To join the program, download the MoneyLion app at app.moneylion.com on the App Store or through Google Play.

About Zendrive
Zendrive's mission is to make roads safer through data and analytics. Its award-winning Mobility Risk Intelligence (MRI) platform — powered by 200 billion miles of data gathered from 100s of millions of drivers across the globe — helps insurers understand and mitigate mobility risk, reducing the likelihood of collisions by 49%. The platform also helps insurers find and acquire preferred risk drivers through Zendrive's vast publisher network with access to hundreds of millions of users. With an engaging test drive experience, participating consumer applications deliver savings to their customers while also diversifying revenue streams. The company has been recognized as one of Fast Company's Most Innovative Companies and won the 2017 Best Startup in San Francisco award.

About MoneyLion
MoneyLion is the go-to destination for personalized financial content, products, and advice. MoneyLion’s mission is to rewire the financial system to positively change the path of every hard-working American. MoneyLion uses its proprietary data advantage and technology to empower its customers. MoneyLion engages and educates its customers with daily, hyper-personalized money-related and money-adjacent content that is delivered through each customer’s own content feed. MoneyLion provides its customers with a full suite of financial and non-financial solutions, bundling its proprietary, low-cost financial products with products that are offered through its marketplace technology and network affiliate partners. MoneyLion also leverages its distinct data, technology, and network advantages to deliver leading embedded finance and marketplace solutions for enterprise customers. Since its founding in 2013, MoneyLion has empowered millions of Americans to take control of their finances and live their best financial life, every day.

For more information about the company, visit www.moneylion.com. For investor information and updates, visit investors.moneylion.com and follow @MoneyLionIR on Twitter.

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