Insurtech platform SURE has launched RideSafe, an insurance product offering passengers coverage for ridesharing networks, beginning with Uber and Lyft. Future offerings of RideSafe will include coverage for passengers riding in autonomous ridesharing fleets.
Through this new offering underwritten by Chubb, rideshare passengers are given the ability to purchase accidental medical expense and accidental death and dismemberment coverage on an episodic basis.
SURE’s RideSafe product works by connecting a customer’s Uber or Lyft account to their SURE Insurance app, and once coverage is initially authorized, the passenger’s ride is automatically insured. This is the fifth transportation-based insurance product provided from SURE.
James Walloga, EVP Accident & Health, for Chubb North America, said new conveniences for consumers like ridesharing come new risks that create a need for additional personal protection.
SURE customers in more than 38 U.S. states can enroll in RideSafe coverage when using rideshare services like Uber and Lyft often in under 60 seconds. Plans are underway to launch RideSafe in additional states.
Customers can setup RideSafe by downloading the ‘Sure Insurance’ app. After selecting ‘RideSafe Insurance,’ customers are taken through the process of connecting their rideshare accounts. Once connected, the customer gets automatic coverage for each ride taken during a 24-hour period without the need to activate coverage manually. Certain terms may be different where required by state law.
SURE provides access, enrollment, servicing, and claims for any type of insurance directly through mobile apps, APIs, and the web. It currently partners with more than 35 insurance carriers across worldwide, offering insurance products through its digital platform including rideshare, renter’s, travel, pet, jewelry, and many others. Based in New York City and Los Angeles, SURE is available in all 50 states.