MunichRe teams up with UK ride-sharing firm

Fleet owners and drivers to both benefit from tailor-made product

MunichRe teams up with UK ride-sharing firm

Insurance News

By Paul Lucas

Insurance and ride-sharing haven’t always gone hand-in-hand given all the controversy surrounding Uber and its insurance schemes for its drivers. However, now one UK-based ride-sharing firm is aiming to change that perception by announcing a partnership with a reinsurance giant.

Drover is tying up with Digital Partner, a unit of Munich Re, to launch a tailor-made product for fleet owners and ride-sharing drivers.

The idea is that the drivers will be able to buy, maintain and renew policies via the Drover platform as the ride-sharing vertical in general continues to expand having attracted US$9 billion in funding last year alone.

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

“Munich Re is committed to its continuous involvement in digitising insurance to benefit clients and insurers around the globe,” added Andrew Rear, Chief Executive of Digital Partners, a unit of Munich Re. “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.”

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