An Auto Insurance Company
By A Black Guy For All Black People
A $25M Opportunity
Addressing Market Disparities Through Fair Community Focused Insurance
From The Founder
My father was a history teacher, and from my earliest memories he stressed that we as a people were burdened with living in the land of plenty, that we helped to build, while we as a people had nothing at all.
I have spent my life looking for a means to redress that particular problem.
Along the way I have been an HR Director at 26 years old, a movie producer at 42, and have run a property photography business for a few decades.... Before I finally realized at 55 where the opportunity for us lay.
We spend $1.7 Trillion a year on various purchases and none of that money makes it back into our community. Our loans for credit cards, cars, and homes are at usurious rates from banks that used to carry mortgages on us back when we were property. Our polluted groceries and fast foods come from GMO based laboratories designed to poison us into diabetes, high blood pressure, and hypertension.
Yet we live in a time where the entire world of technology makes aquaponic and hydroponic farming and solar energy possible, if only we had the means to pay for it.
I am asking you to join me in building a black owned car insurance company that will take the several hundred dollars we have to spend every month and stop it from being a waste that ends up on some corporate balance sheet and turn it into a building block for an actual black community.
My name is Kenno Rixson and I hope you will take this ride with me.
Market Opportunity And Disparities
● Premium Disparity
1.46X
black drivers pay 46% more than white drivers on average
average gap $326
annually
● Claims Frequency
2.38X
higher average losses for black drivers
often due to external factors not driving
behavior
● Market Size
47M
black customers in the united states
13.5% of the total population
Contributing Factors to Disparity
Credit Based Insurance Rates
Disproportionately affect minority groups due to historical economic disparities
Homeownership Discounts
Lower homeownership rates in African-American communities lead to higher premiums
Geographic Factors
Higher premiums in predominantly Black neighborhoods due to infrastructure and enforcement patterns
Payment Methods
Discounts for paying in full favor those with greater financial liquidity
Opportunity:
Create fair pricing models that focus on actual driving behavior rather than socioeconomic proxies and lean towards value versus gouging
Our Business Model And Value Proposition
Our Mission
To provide fair, accessible, and affordable auto insurance to the Black community, addressing historical disparities and fostering financial empowerment through innovative, community-centric insurance solutions
Fair Pricing
Alternative risk assessment models that focus on actual driving behavior rather than socioeconomic proxies like credit scores or zip codes.
- ●Telematics-based pricing
- ●Transparent rate calculations
- ●No credit score discrimination
Community Centric
Build trust through culturally sensitive marketing, community partnerships, and local engagement programs.
- ●Community Organization Partnerships
- ●Local Agent Network
- ●Cultural Competency Training
Education And Empowerment
Comprehensive educational resources on safe driving, insurance literacy, and financial planning to empower policyholders.
- ●Safe Driving Workshops
- ●Financial Literacy Programs
- ●Insurance Education Resources
Simplified Claims
Transparent, efficient claims process designed to be easy to navigate with dedicated support for policyholders.
- ●24/7 Claims Support
- ●Mobile Claims App
- ●Fast Claims Resolution
Revenue Streams
Primary Revenue
Insurance premiums from policy sales, with competitive pricing that maintains profitability while offering fair rates to our target market.
Investment Income
Income generated from investing collected premiums in conservative, low-risk investments before claims payouts.
Target Market Analysis
African-American automotive market demographics and opportunities
Market Size
47M
black people in the United States
13.5%
of total US population
85%
vehicle ownership rate
Economic Profile
48K
median Household income
1.7T
total buying power
85%
are LMI households
Key Market Needs
Fair Pricing Models
Eliminate discriminatory factors in rate calculation
Cultural Competency
Understanding of community-specific needs
Financial Education
Insurance literacy and financial planning
Accessible Service
Easy to navigate claims and support
Our Competitive Advantages
Focused Mission
Dedicated to serving the black community with purpose-built solutions
Data Driven Fairness
Advanced analytics to eliminate bias while maintaining profitability
Community Trust
Built through authentic engagement and transparent practices
Technology Innovation
Modern platform with mobile-first approach and telematics integration
Launch Locations
Our Launch Locations have a total population of 16.5M black people with 85% owning cars
Scalability And Nationwide Expansion Timeline
Year 1
5 State Launch
Establish operations and prove model in Florida, Georgia, North Carolina, Texas, and California
Year 2
Nationwide Expansion
Pay the remaining $225M in state fees to provide coverage
Year 3
Begin Mortgage and Home Insurance
Refinance operations and Homeowners Insurance
Pricing Strategy
We will offer better than competitive pricing and service that will make us too good to beat:
- ●100% Coverage
- ●$0 Deductible
- ●20% Less than what you are paying now
Operating Efficiency
Technology-driven operations targeting 20% expense ratio below the industry average of 25%
Investment Income
Conservative 3% annual return on invested premiums, contributing 5–8% of total revenue
Financial Projections And Capital Requirements
5 Year Financial Outlook And Capital Allocation Strategy
Initial Capital
| Seed Capital | $25M |
|---|---|
| State Bond | $19M |
| App Development | $100K |
| Regulatory Compliance | $200K |
| Miscellaneous Reserve | $4M |
Year One Targets
| Policies | 10M |
|---|---|
| Average Premium | $1100 |
| Revenue | $1.1B |
| Loss Ratio | 75% |
Year Five Goals
| Policies | 30M |
|---|---|
| Average Premium | $1100 |
| Revenue | $33B |
| Net Income | $28B |
