Teens, parents and car insurers don’t agree on much. But they do agree that dangerous and expensive car accidents are bad. KarChing CEO Ramsey Gouda figured that insurers and parents would be willing to pay some money upfront to reduce the risk of teen car accidents. The KarChing app uses telematics (or a combination of monitoring technologies) to measure factors like acceleration, hard braking and screen usage. Parents and insurance companies deposit money via the app. When the teenager is driving well, the cash is funnelled into their PayPal or Venmo accounts. “You see it going up as you go,” Ramsey explains. “If you're driving safely, it goes up. If you start messing around, it stops.”