It looks like Uber is busy forging insurance alliances in the UK.
Last week Insurance Business reported on the AA’s three-year deal with the ridesharing platform, barely four months since an announcement from Uber partner INSHUR. Now it’s AXA XL’s turn to offer something new to Britain’s Uber drivers.
Called “Vehicle Interruption Cover,” AXA XL’s on-demand insurance proposition will provide a lump-sum benefit of up to £450 if an Uber driver’s vehicle is damaged following an accident and is off the road for at least 24 hours.
Described as fully flexible, the insurance product is available straight from the app. Premium is automatically collected from completed Uber trips while immediate cancelation is also made possible in-app.
UberPro – the ridesharing platform’s newly implemented UK loyalty programme – partners at diamond level, meanwhile, get the added benefit of Uber contributing the premium for the coverage.
“We are always looking at more ways we can help drivers and we are very happy that this partnership with AXA XL can be part of our loyalty programme for drivers, UberPro,” said Russell Corbould-Warren, Uber’s head of insurance for Europe, the Middle East, and Africa.
The new product will initially be available to all Uber drivers in the UK, with the possibility of it being eventually offered to partners and couriers in other European countries. It is among the offerings that have been developed and implemented since AXA XL parent AXA teamed up with Uber in Paris in 2017.
Commenting on the development, AXA XL chief executive of UK legal entities Paul Greensmith explained: “With Vehicle Interruption Cover, we have applied the knowledge and experience gained from working with some of the world’s leading companies and combined it with the technology and innovative mindset of the AXA Group Affinity Insurance Platform team.
“We are proud to help drivers make the most of Uber’s flexible earning opportunities, without having to worry as much about their financial security should something go wrong.”
Meanwhile Corbould-Warren added: “Our teams worked very well together showing great innovation and focus to create this new vehicle interruption cover and used new AXA tech capabilities to deliver a fantastic user experience that is one of the best we have seen from any insurer.”
