Uber is announcing new flexible insurance policies for drivers from late August 2020 through a partnership with INSHUR.
The aim is to meet the demands of drivers who want more choice of insurance products and is part of a new driver loyalty program called Uber Pro. As part of the scheme, drivers will also get the chance to enroll in free training courses from Leiden Educational Institutions (LOI).
Uber welcomes UK and New York-based insurance provider INSHUR to the Netherlands to bring more competition to the taxi insurance landscape, aiming to lower the costs of insurance for drivers. “Drivers take tremendous pride in the service they provide. Drivers have told Uber that more could be done to reduce the costs of insurance, so we did. By adding new benefits to Uber Pro, including insurance options from INSHUR and free training courses from LOI, we help drivers achieve their goals on and off the road.” says Maurits Schönfeld, General Manager Northern Europe at Uber.
An insurance policy within three minutes
INSHUR provides drivers with the ability to buy a policy within three minutes, a process that drivers report can take hours or days via a traditional broker. A driver focus group and market research conducted by INSHUR found that drivers are looking for alternative insurance options, specifically in Amsterdam. 65% of drivers want greater flexibility regarding the length of the policy they can purchase.*
Through data-sharing and real-time analysis, INSHUR is able to analyse risk better, aiming to deliver more competitive prices to the driver. Drivers securely log in to the INSHUR platform via their Uber account and consent to sharing their data. Drivers on the Uber Pro programme can benefit from up to 20% off the normal price of an INSHUR policy and gain free NCD protection. The savings will greatly benefit drivers, with Diamond tier drivers able to save up to €60 a month on their insurance with INSHUR.**
CEO of INSHUR, Dan Bratshpis, said: ‘Our growth into the Dutch market underlines the change taking place in the insurance landscape. The new mobility age, led by companies like Uber, demands a new type of protection and INSHUR addresses the gap where traditional insurance companies struggle to keep up. We will bring an entirely new digital insurance experience to the market. We aim to support and protect drivers, provide them with choice and flexibility and help make insurance more accessible and affordable.
The move will see INSHUR recruit local Dutch specialists and open a new office in Amsterdam to secure passporting authority into other European markets in due course. The investment in the Netherlands drew support from the Netherlands Foreign Investment Agency (NFIA). Jeroen Nijland, Commissioner of the NFIA, welcomed INSHUR to Amsterdam. Adding: “I am delighted that INSHUR has chosen to set up its operations in the Netherlands. INSHUR adds to our strong IT cluster, which is further proof that our country is very attractive for global businesses operating at the forefront of information and technological developments. With uncertainty all around, we welcome companies like INSHUR that look for a stable and thriving future. INSHUR will benefit from the Netherlands’ position in the heart of Europe, great access to an English-speaking talent pool and excellent international digital and transport connections.”
Uber Pro
In addition to flexible insurance, Uber Pro also offers drivers the opportunity to follow courses at LOI. For both personal and professional growth, it’s important for drivers to have the opportunity to continue to develop themselves. Together with LOI, Uber drivers have the tools to grow on the platform as drivers and beyond. Based on the number of rides and the passenger ratings, drivers earn a rating. The ratings range from Gold to Platinum to Diamond status and with them, drivers can earn rewards. The higher the status, the more rewards can be unlocked. INSHUR will be available for Uber Pro drivers from late August.
* Research conducted by INSHUR with 53 Uber drivers in Amsterdam.
** Subject to terms. The “up to 20%” reduction relates to the difference between a Blue Tier and Diamond Tier Uber PRO driver seeking a quote from INSHUR. €60 monthly saving calculated by comparing the savings for a Diamond tier driver against a Blue tier driver buying a INSHUR Pro WA 30 day policy