Drover Partners with Munich Re on Bespoke Insurance Product for Rideshare, Fleets

Rideshare drivers and fleet owners will be able to buy the tailor-made product through Drover’s online car marketplace platform. 

(Image source: Drover homepage.)

Drover (London), a platform for hiring vehicles, including for rideshare use, has partnered with Munich Re’s (Munich Re) Digital Partner business unit to launch an insurance product for ride-sharing drivers and fleet owners, who will be able to buy, renew and maintain policies online through the Drover platform.

Felix Leuschner, CEO and co-founder, Drover.

“This partnership between Drover and Munich Re will deliver game-changing cost savings and a whole new level of service for our customers,” Felix Leuschner, CEO and co-founder, Drover. “We couldn’t be more excited to insure drivers and fleets through the first bespoke, digitally-native product for our industry.”

Drover describes its offering as a platform that provides flexible access to cars inclusive of insurance for gig economy workers through a marketplace model. The company’s business approach combines what it calls a deep understanding of the specific needs of ride-sharing and other gig economy workers with a sophisticated fleet management product. With the partnership with Munich Re Digital Partners, Drover now also offers bespoke insurance integration.

Taking On the Ridesharing Insurance & Car Markets

“Munich Re is committed to its continuous involvement in digitizing insurance to benefit clients and insurers around the globe,” comments Andrew Rear, Chief Executive of Digital Partners. “We’re looking forward to continue watching Drover take on the ride-sharing insurance and car markets, which have become significant markets over the last years and are expected to continue to grow fast.”

A Drover statement reports that the ridesharing market has grown into a huge vertical marking a paradigm-shift in urban transportation globally since its beginnings in San Francisco in 2009.
“The sector has attracted over $9 billion in funding in 2016 alone with millions of active drivers across several major platforms around the globe,” the statement notes.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For over a decade he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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