(Image source: Pixabay.)
Nationwide (Columbus, Ohio) has undertaken a partnership with Slice Labs to create an insurance solution for drivers in rideshare programs, such as those of Lyft and Uber, that will enable them to purchase on-demand coverage unique to their industry via an app, and at variable increments that align with the time they are driving for their ridesharing platform. The product is expected to debut later this year, according to a joint announcement.
“This partnership exemplifies our commitment to innovation by leveraging technology to provide rideshare drivers with a flexible and comprehensive insurance product,” comments Teresa Scharn, AVP, product development, Nationwide. “We are partnering with Slice Labs to develop a new insurance solution for rideshare drivers that is not available on typical ridesharing endorsements or available through TNC companies.”
Coverage provided through the new product will extend from the moment rideshare drivers activate coverage on the app to when they stop coverage on the app. This timespan can range from just a few minutes up to multiple hours.
Providing On-Demand Services to Consumers
“The rideshare market is a prime example of the benefits of providing on-demand services to consumers,” comments Tim Attia, CEO of Slice Labs. “The partnership with Nationwide is an important step in the evolution of the traditional auto product to meet the demands of future mobility solutions in an increasingly digital and on-demand world.”