SURE, a leading insurance technology platform, today announced RideSafe™, a first-to-market insurance product offering passengers essential 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.
The launch of RideSafe™ marks the fifth transportation-based insurance product provided from SURE. RideSafe™ 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.
"Rideshare services like Uber and Lyft have fundamentally transformed the way people move around cities, and more people are using the app-based services as a primary source of transportation," saidWayne Slavin, founder and chief executive officer, SURE.
"In keeping with SURE's mission to provide access to the best insurance worldwide, we've developed the industry's first rideshare insurance for passengers, underwritten by Chubb," said Slavin.
"The RideSafe™ experience is seamless and it makes getting insurance protection as easy as getting a ride. Today, for the more than one hundred million Americans who use rideshare networks SURE has developed the best solution for their insurance needs. We will continue to create innovative new insurance products and we are committed to passenger safety as the industry evolves."
"Powered by technology, companies now seek new ways to deliver their products and services to consumers in the most convenient way," said James Walloga, EVP Accident & Health, Chubb North America.
"However, along with new conveniences come new risks that create a need for additional protection. Chubb's insurance offering, through SURE's technology platform, further reinforces our commitment to innovative, digital solutions and providing consumers with peace of mind."
Beginning today, 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.