INSHUR and Uber have partnered to offer a range of insurance services to drivers who use the Uber app. The fully digital insurance service is one of the first of its kind.
INSHUR uses information about average trips, location and driver ratings in near real-time. The data is then used to calculate risks and pricing, and reward safe driving with cheaper policies.
Traditionally, it has not been an easy process for drivers to purchase specialist PHV insurance. A recent survey found over half of drivers waited a day or more for their policy and 11% waited for one or two weeks*. Drivers have to print forms, call or visit a broker’s office – all of which keep them from driving and costs money.
The INSHUR app allows drivers to log in using their Uber ID, scan their licences, select a type of cover and pay for a policy in the app. This process takes only three minutes and drivers can make changes 24/7 and don’t need to wait for the broker to open.
The partnership also aims to reduce insurance fraud. INSHUR is the only 100% mobile PHV insurance provider in the UK meaning it is able to provide real-time digital checks without the need for manual intervention. For example, INSHUR fraud protection is built into the application process, with automated driver validation, such as scans of both Driving Licence and Private Hire Licences.
Insurance documents are also automatically uploaded to the Uber platform as soon as a driver is covered and notifications are automatically sent if the driver is no longer insured.
Fred Jones, Director, Uber London Limited, 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.”
David Daiches, Co-founder, INSHUR, 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.”