Insurtech company Roamly has launched its AI-powered Carshare insurance platform targeting shared vehicle and mobility sectors.
The platform’s introduction follows the company’s recent accreditation as a Lloyd’s of London Coverholder.
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Roamly Carshare is engineered to work with stakeholders including marketplaces, fleet operators, mobility services and transportation networks.
Utilising a blend of machine learning, telematics and AI technologies, the platform aims to refine the insurance underwriting process, expedite claims automation and provide tailored risk management solutions.
The platform is designed with an API (application programming interface)-first no code approach, allowing for integration of insurance services within the existing booking, checkout and fleet management processes.
It can be integrated into a fleet rental management software-as-a-service (SaaS) tool.
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By GlobalDataThis allows for direct customer bookings through operators’ own branded websites and the ability to manage fleets across multiple locations.
Currently, the Carshare platform insures 7,000 vehicles, with plans to expand to more than 12,000 units by 2025, supporting both carsharing and ridesharing scenarios.
A key feature of the Carshare platform is its integration with Wheelbase, Roamly’s fleet management SaaS system, which facilitates direct booking.
This feature enables operators to directly engage with customers while also providing the option to list on third-party marketplaces. The insurance coverage extends to periods when vehicles are parked, used for personal purposes, or operated on rideshare platforms such as Uber and Lyft.
Roamly CEO Jeff Cavins said: “With our AI-powered Carshare solution, we are breaking down that barrier – offering scalable, affordable and fully embedded insurance coverage that helps operators grow with confidence and protects consumers who participate in the marketplace economy.
“The Carshare product has been strong coming off launch, and will generate more than $12m in premium by the end of the year.”
