Digital insurance platform Inshur and ride hailing firm Uber have teamed up to provide an assortment of insurance plans to its drivers.
Leveraging data related to average trips, location and driver ratings in near real-time, Inshur compute risks and pricing, and reward safe driving with economical insurance plans.
A recent study reveals that more than half of drivers waited a day or more for their policy and 11% waited for one or two weeks. As a result, they were unable to drive and lost their earning for one or two days.
Now, Uber drivers can use the Inshur app to log in using their Uber ID, scan their licences, select a type of cover and pay for the insurance plan through the app.
It is claimed that the entire process can be completed in less than three minutes and drivers can make changes round the clock without waiting for the broker to open.
Once the driver gets the coverage, insurance documents are automatically uploaded to the Uber platform and notifications are sent if the driver is no longer insured.
Uber London director Fred Jones said: “Safety is at the heart of everything we do and motor insurance is at the heart of private hire safety.
“We have introduced many new safety features in the app and improved our processes over the past 18 months. However, we won’t stop there because when it comes to safety on our platform, our work is never done.”
Inshur co-founder David Daiches said: “We have built a data-driven technology platform, secured insurance capacity with a trusted global insurer and are scaling our business in New York and the UK.
“The relationship with Uber further extends our focus on technology, data and real-time usage based risk assessment. The aim will be to reward the safe and highest rated professional drivers, this is a great thing for everyone.”