Paris-based, on-demand insurtech wilov has introduced car insurance specifically tailored to young drivers with less than three years of driving experience. The company is offering a new type of auto insurance, called “driver-less” or DRIP, which allows the driver to choose their own premium and cover any damages caused by an accident without having To reduce the number of nights a young driver may need to use their car, the firm also offers to pay customers’ cab costs up to three times a year.
Paris-based, on-demand insurtech wilov has introduced car insurance specifically tailored to young drivers with less than three years of driving experience. The product will function similarly to the insurtech’s regular car insurance, except between midnight and 6 am when young drivers will be charged a “danger fee” of €25 ($28) per night. To reduce the number of nights a young driver may need to use their car, the firm also offers to pay customers’ cab costs up to three times a year.