Ride sharing giant Uber has struck a deal with a US insurtech startup to offer digital insurance for its drivers.Inshur uses information about average trips, locations and driver ratings in near real-time to calculate the price of the driver’s policy. : The startup says drivers can log into its app using their Uber ID, scan their licences, select a form of insurance and pay for their policy in the app within three minutes.Fred Jones, director, Uber London, 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.” : David Daiches, co-founder, Ishur, 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.”In February Inshur closed a series A investment round led by reinsurance giant Munich Re, securing $7m (£5.6m) in equity funding and a further $2m credit facility.Uber’s float earlier this month in New York gave the company a valuation of $82bn. :
Uber has partnered with Inshur insurtech US to offer its drivers digital insurance, with prices based on near-real time data, including trips, locations and driver ratings. US said drivers could use their Uber ID to log into its app and, after scanning their licences, could select and pay for their cover in three minutes.