#USA #Austin #Insurance #Roamly #Carshare

Roamly Unveils AI-Powered Carshare Insurance

In a move set to redefine the landscape of shared mobility, Roamly, a premier name in digital specialty insurance technology, has launched a cutting-edge AI-driven Carshare insurance platform. This launch aligns with Roamly's recent designation as a Lloyd's of London Coverholder, alongside winning the Celent Innovation Award for its advanced AI-powered Actuarial Rater™.

The Carshare insurance platform is expertly designed to cater to the rapidly evolving demands of the mobility and shared vehicle economy. It integrates seamlessly with marketplaces, fleet management systems, and transportation networks, making it easier for operators to manage their fleets and insurance needs effectively.

Key Features of Roamly Carshare Insurance

The Roamly Carshare platform utilizes machine learning, telematics, and innovative AI technologies to transform traditional insurance processes. Features of the platform include:

• - Seamless Integration: The insurance solution is embedded within booking and fleet management workflows, allowing operators to integrate insurance directly into their customer experiences.
• - Comprehensive Coverage: Policies adapt to various fleet sizes and usage patterns, ensuring compliance with state requirements without the constraints of conventional insurance policies.
• - Multi-Use Protection: Coverage extends beyond just carsharing, providing protection for personal use and when vehicles are utilized for rideshare services such as Uber and Lyft.

Jeff Cavins, the CEO of Roamly, explained, “Historically, insurance has posed significant barriers for shared mobility operators, representing their highest operational costs. Our AI-powered Carshare solution is designed to eliminate these obstacles, providing scalable, cost-effective, and holistic insurance coverage.”

Disrupting the Carsharing Landscape

With the introduction of Carshare insurance, Roamly has become a pioneer in embedding commercial vehicle insurance within a fleet management SaaS tool for the first time. This innovation allows fleet owners to manage bookings directly through their platforms or third-party marketplaces, boosting their revenue potential. With over 7,000 vehicles currently covered nationwide and plans to expand this number to over 12,000 by the end of 2025, Roamly is poised to significantly influence the market.

Early adopters have already expressed enthusiasm about the changes brought by Roamly’s solutions. Natalia Zorina, President of GM Luxe in Hollywood, Florida, stated, “Roamly Carshare has been a game-changer for scaling my business. The embedded insurance offers operational control, higher profit margins, and a superior customer experience.”

Sean Cohen of FYV Co., a luxury auto provider in Miami, highlighted that Roamly is pioneering a new business model for fleet operators. Justin Pappan, owner of EV Access in Phoenix, noted, “The Carshare solution has alleviated the challenges we faced in scaling our fleet and protecting our assets efficiently.”

A Bright Future Ahead

Roamly's recent designation as a Lloyd's Coverholder provides enhanced access to global specialty insurance markets. This capability empowers Roamly to develop and distribute niche insurance products that cater to the modern mobility landscape while maintaining a direct risk-writing relationship with Lloyd’s.

Aaron Ammar, Chief Insurance Officer at Roamly, remarked, “Our goal is to create vertically integrated, AI-enabled insurance solutions that keep pace with the demands of the mobility economy.” With the introduction of the Carshare insurance and its reinforced role in the mobility market, Roamly is positioned for continued innovation and market leadership.

Roamly stands as a front-runner in developing specialty insurance solutions tailored for today’s mobility and marketplace travel economy. With AI-driven technology and deep partnerships, Roamly seeks to empower fleet owners and marketplaces to discover new revenue avenues while managing risks effectively. Based in Austin, Texas, with a second location in Aventura, Florida, the company is a beacon for the future of insurance in the mobility space. For more information, visit www.roamly.com.