Roamly Launches Open Platform 'Roamly Carshare,' With Getaround As Flagship Customer
Roamly, an API-enabled digital insurance platform, announced the launch of its proprietary Carshare Insurance product, aimed at commercial fleet vehicle operators. Named Roamly Carshare, the new product offers customized coverage for carsharing users during both rental and non-rental periods. This integration aims to help car-sharers by removing premiums for non-utilized features, thus enhancing profitability. Roamly's Carshare Insurance is now live on Getaround, a leading car-sharing marketplace. The global car sharing market is poised to hit $51.7 billion by 2030, making this launch timely and significant. Roamly's CEO, Jeff Cavins, emphasized the importance of this partnership in supporting the shift toward eco-friendly transportation.
- Launch of Roamly Carshare expands product offerings.
- Integration with Getaround, a major player in car-sharing.
- Customizable insurance coverage for rental and non-rental periods.
- Enhances profitability by removing non-utilized premiums.
- Timely launch considering the global car-sharing market's growth to $51.7B by 2030.
- Open API platform promotes global marketplace economy.
- Fast and seamless integration for carshare companies.
- Supports environmentally-friendly transportation shift.
- Potential for rapid expansion in global peer-to-peer car sharing ecosystem.
- Partnership increases income potential for carshare owners.
- No specific financial data or projected revenues disclosed.
- Potential high competition in the expanding car-sharing insurance market.
- Reliance on market projections which may not materialize.
- Initial dependence on Getaround for product success.
Insights
Roamly's launch of its proprietary Carshare Insurance product marks a significant development, particularly in an industry projected to reach
Roamly's Carshare Insurance product offers a tailored solution for commercial fleet operators and car-sharing marketplaces, addressing a critical gap in the insurance sector. Traditional insurance policies often do not adequately cover the dynamic needs of car-sharing vehicles, which are used intermittently. Roamly's innovative approach to providing coverage during both active and non-rental periods helps mitigate risk for car owners and enhances the attractiveness of car-sharing platforms. This product's ability to remove premiums for unused features can also lead to cost savings for users, thereby increasing platform loyalty. Key challenges may include ensuring consistent underwriting standards and managing claims efficiently as the user base grows.
The partnership between Roamly and Getaround highlights a strategic alignment that could accelerate the adoption of car-sharing services. Getaround's established market presence and Roamly's innovative insurance solutions create a synergistic effect, likely to attract more users to both platforms. This collaboration also underscores the importance of comprehensive insurance in enhancing user confidence and promoting sustainable transportation options. Market analysts should note the potential for increased market penetration as Roamly's insurance model can be easily integrated into other car-sharing platforms, thereby expanding its influence and market share. However, the competitive landscape is fierce and Roamly must continue to innovate to maintain its edge.
New integration expands Roamly's insurtech offerings, providing car sharing marketplaces competitive insurance protection
Roamly's commercial coverage is designed for individuals and fleet owners who carshare through rental platforms to protect their assets in between rentals — whether they're parked on the lot or being driven for routine maintenance, gas fill-ups, car washes, and more.
"From day one, Roamly was designed as an open API platform to power the global marketplace economy," said Jeff Cavins, Roamly's CEO & Founder. "The peer-to-peer car sharing market is growing rapidly across the globe, and we're proud to support this shift toward environmentally-friendly transportation and mobility-on-demand options."
Meet Roamly Carshare: fast, comprehensive, digital-first
Roamly enables
- Provide focused coverage in minutes: Integration is fast and seamless
- Gain a competitive edge: Offer more comprehensive insurance protections to encourage platform loyalty and reduce cross listing.
The first integration of Roamly Carshare is currently live on Getaround, the world's first connected car-sharing marketplace and its wholly-owned subsidiary for gig carsharing, HyreCar, where the product extends protection to their Power User communities.
"We are proud that the Roamly platform is now powering the Getaround community – a pioneer in the carsharing industry," said Cavins. "This partnership is the first step forward on Roamly's roadmap for rapid expansion in the global peer-to-peer car sharing ecosystem."
The significance of this launch comes at a time when the global car sharing market is projected to reach
"Our partnership with Roamly allows us to give Getaround owners greater peace of mind when it comes to period X coverage," said Getaround's CEO Eduardo Iniguez. "We are excited to work with an insurance partner who is a true innovator – as well as a partner who is able to seamlessly integrate their insurance coverage with our platform. Roamly's Carshare Insurance product allows us to continue executing on our mission: to offer more environmentally friendly, connected mobility-on-demand options for drivers and greater income potential for owners."
"This gives our nationwide owner community one more reason to choose Getaround first," said Iniguez.
To learn more about Roamly Carshare insurance, visit roamly.com/carshare-insurance.
About Getaround
Offering a digital experience, Getaround (NYSE: GETR) makes sharing cars and trucks simple through its proprietary cloud and in-car Getaround 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 8 countries including
About Roamly
Roamly, part of the Outdoorsy Group, is the first API-enabled, digital insurance platform with an embedded offering that brings RV insurance to make owners' vehicles 'rent ready.' Roamly provides a suite of unique digital insurance products that eliminate the commercial use exclusion clause that prohibits online renting activity. Roamly underpins outdoorsy.com and allows other peer-to-peer marketplaces to embed professional and personal insurance products – such as rental insurance, trip and travel insurance, and protections such as weather and roadside assistance – directly to customers through simple booking flows. For more information, visit www.roamly.com.
Media Contact
press@roamly.com
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SOURCE Roamly
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