Embedded micro-insurance supplier MIC World has entered a collaboration with insurtech firm VOOM Insurance coverage to supply reinsurance for ride-share companies within the US.
The collaboration goals to rework ride-share insurance coverage by offering reasonably priced, usage-based protection choices.
VOOM Insurance coverage specialises in usage-based insurance coverage choices and delivers customised options for brand spanking new mobility markets within the US.
Its usage-based protection prices drivers primarily based on their precise private mileage, which is claimed to result in value financial savings and fill protection gaps.
VOOM Insurance coverage co-founder and CEO Tomer Kashi stated: “Partnering with MIC is a big milestone for VOOM. Their experience and dedication to innovation make them an excellent companion as we proceed to develop and increase our ride-share insurance coverage choices.
“Collectively, we are going to present unparalleled protection and assist for ride-share drivers, making certain they’ve the safety they want.”
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The partnership between MIC World and VOOM Insurance coverage will assist the latter in enhancing its means to cater to gig financial system drivers with a product particularly designed for his or her wants, providing safety and potential financial savings.
MIC World famous that this deal is in keeping with its mobility portfolio and can assist in fostering new insurance coverage options for the way forward for transportation.
MIC World co-founder and COO Harry Croydon stated: “We’re extremely excited to companion with VOOM Insurance coverage. This collaboration not solely strengthens our mobility e-book but in addition permits us to assist an organization that’s actually revolutionising the insurance coverage business.
“VOOM’s revolutionary strategy to usage-based insurance coverage is an ideal match for our strategic targets, and we look ahead to a profitable partnership.”
