Axle and Getaround Partner to Allow Guests to Use Their Own Car Insurance, and Reduce Costs

Rhea-AI Summary

Axle announces partnership with Getaround to provide guests with more flexible insurance options and lower costs

Positive

• Guests of Getaround can now bring their own insurance to the platform, resulting in cost savings of up to 15%. The partnership with Axle enables Getaround to instantly verify insurance, providing a seamless experience and better pricing for its guests.

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• None.

Guest savings of up to 15%

ATLANTA, June 15, 2023 /PRNewswire/ -- Axle, the leading universal API for insurance data, is pleased to announce a partnership with Getaround (NYSE: GETR), the world's first connected carsharing marketplace. The collaboration will enable Getaround guests to bring their own insurance to the platform, providing them more flexible protection options and control of their carsharing experience. Additionally, this provides Getaround with a new risk management alternative that lowers costs and drives satisfaction.

Axle empowers Getaround to instantly verify insurance, providing a seamless experience and better pricing for its guests

The Axle partnership, and the new approaches to risk management that it creates, enables a cost savings of up to 15% for eligible guests while improving the customer experience.

"We are thrilled to partner with Getaround, a pioneer in the car-sharing industry and a leader in bringing cutting edge technology to its Guests and Hosts," said Armaan Sikand, Co-founder and COO of Axle. "Axle empowers Getaround to instantly verify insurance and reduce operational risk, while providing better pricing and a seamless experience for its guests. This partnership with Getaround brings Axle a step closer to our mission of making insurance data more accessible to parallel industries."

Ruth Yankoupe, Vice President of Customer Experience at Getaround, added, "Integrating Axle into Getaround's industry-leading, digital carsharing marketplace is the latest example of how Getaround is driving innovation in the category and putting the customer first  with increased platform trust, affordability and satisfaction. Getaround is committed to providing our hosts and guests with the best possible experience, working with partners like Axle is one way we are continuing to improve the customer experience - offering flexibility in choice."

About Axle

Axle is "Plaid for insurance" - a universal API for insurance data. With Axle, companies can instantly verify insurance and monitor ongoing coverage, helping them reduce operational cost while creating a frictionless experience for users. Axle is backed by leading investors including Y Combinator and Gradient Ventures, Google's AI-focused venture fund, and angels from industry leaders like Plaid and Cox Automotive. For more information, please visit https://axle.insure.

About Getaround

Offering a 100% digital experience, Getaround (NYSE: GETR) makes sharing cars and trucks simple through its proprietary cloud and in-car Connect® technology. The company empowers consumers to shift away from car ownership through instant and convenient access to desirable, affordable, and safe cars from entrepreneurial hosts. Getaround's on-demand technology enables a contactless experience — no waiting in line at a car rental facility, manually completing paperwork, or meeting anyone to collect or drop off car keys. Getaround's mission is to utilize its peer-to-peer marketplace to help solve some of the most pressing challenges facing the world today, including environmental sustainability and access to economic opportunity. Launched in 2011, Getaround is available today in more than 1,000 cities across the United States and Europe. For more information, please visit https://www.getaround.com/.

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SOURCE Axle

FAQ

What is the partnership between Axle and Getaround about?

Axle and Getaround have partnered to allow Getaround guests to bring their own insurance to the platform, resulting in cost savings of up to 15%.

How does the partnership benefit Getaround guests?

The partnership allows Getaround to instantly verify insurance, providing a seamless experience and better pricing for its guests.

What is Axle's mission?

Axle's mission is to make insurance data more accessible to parallel industries.