Fox/Stanard-backed embedded auto MGA eyes expansion
Published: June 23, 2025
In The Car offers embedded auto insurance by integrating policies into dealership management systems.
In The Car, an embedded auto insurance platform backed by Howden Re executive chairman Rod Fox and former RenaissanceRe chairman and CEO Jim Stanard, is setting its sights on rapid growth after a soft launch earlier this year.
The MGA offers embedded auto insurance at car dealerships by integrating policies into dealership management systems. The company, led by CEO Matthew Edmonds – formerly the architect of Tesla's insurance platform – is live in Texas, Oklahoma and Louisiana, with filings pending in five additional states, including Illinois and Indiana.
The MGA writes on paper provided by Incline Insurance and an affiliate, Redpoint Insurance Group, but is looking to add additional carriers as its footprint expands to other states, Edmonds said.
Fox said the MGA is able to generate personalized insurance quotes using data already collected at the dealership during the car-buying process, eliminating the need for customers to re-enter information or leave the dealership to secure coverage. Quotes are offered for the new car as well as any additional vehicles the buyer already owns.
"Because we're integrated, you don't have to sit there and re-key information that's already been pulled in the auto buying process. We know everything we need to know, and you can buy insurance right there," Fox said. "There's not nine steps."
The platform uses predictive modeling and third-party data sources to instantly pull driving records, prior accidents, current coverage, credit scores (where permitted by state regulators) and household vehicle information. This enables a comprehensive quote in as little as 30 seconds, tailored to the customer's current coverage and the specific vehicle being purchased, Edmonds said.
The company reported strong early traction, with bind rates of approximately 20%- 25% among customers receiving quotes – a figure significantly higher than industry norms, Edmonds said.
He attributed this to the seamless process and the high quality of the customer base, which skews toward new vehicle buyers with higher credit scores and fewer prior losses.
He noted a vehicle like a Ford F-150 can start at $80,000. "These are not cheap," Edmonds said.
In The Car's offering is designed to appeal not only to consumers but also to car makers and dealerships. The platform recognizes and rewards advanced safety features, such as rear-view cameras, automated braking and self-driving packages, with insurance discounts, aligning the insurance product with the technological advancements of modern vehicles.
"If you've got a specific driving safety feature that you've elected to purchase from that [car maker], we want the insurance to benefit from that," Edmonds said. "Those are the kind of features and things that we can offer that the general population of other carriers aren't going to be able to".
Fox said he and co-investor Stanard initially acquired the company after its first iteration faltered, bringing in Edmonds to professionalize operations and scale the platform.
"Rod Fox and Jim Stanard have invested a very material amount of capital into In The Car over the past several years," a company spokesman told this publication with regards to capital outlays for the acquisitions and build-out.
Interest from car makers and dealerships has been strong, with the product's ability to improve customer retention at the point of sale seen as a key differentiator.
Although only licensed agencies can receive commissions from insurance sales, car makers and dealerships receive a distribution payment if the customer signs on to the policy.
While it's early days, Edmonds said the company is producing a loss ratio of less than 25%. He estimates $20mn in premiums the first year, with plans to grow to $500mn in three years.
Tesla is expected to hit $1bn in premium this year, he said. "I just don't see this slowing down."
As embedded insurance gains momentum across financial services, In The Car's approach positions it as a notable contender in the evolving auto insurance landscape.
"Everything can be digital," Edmonds said. "Everything can be embedded… We've built the product, the platforms and the integrations. That really is the key to how we differentiate ourselves from everybody else."
He said the company will expand into small commercial auto and potentially homeowners', although it also offers a homeowners' policy through Nsure, a digital insurance agency that Stanard and Fox have also invested in.