Insurtech Trov Partners with UFODRIVE to Insure London-Based Electric Vehicles

January 29, 2021

Trov, the San Francisco-based insurtech company, announced that UFODRIVE, a frontrunner in sustainable car rental, has selected Trov’s Mobility Insurance Platform for its fleet of fully electric vehicles.

UFODRIVE will benefit from Trov’s risk operations, combined with context-based commercial insurance, managed by UK Insurance Business Solutions under the NIG brand, both of which are part of the Direct Line Group.

UFODRIVE describes itself as an all-electric, user-friendly, digital, sustainable car rental platform. Headquartered in Luxembourg, it also has operations in the UK, Germany, Belgium, Ireland, Netherlands, France and Austria, with a move into the U.S. planned in the near future.

The Trov and UFODRIVE collaboration are launching in London, where they are offering all-digital, all-electric, self-service car rentals out of two locations, Park Lane and Oxford Street.

“The team at Trov have been able to develop an insurance program to suit our unique needs,” stated Jonathan Shine, who heads up UFODRIVE’s UK business. “By complementing our coverage with Trov’s Risk Operations Technology, we have put in place a solution for optimum vehicle utilization and uptime – a critical ingredient for success in 2021.”

“This partnership with UFODRIVE is the first of, hopefully, many for Trov within the UK market and highlights the vital convergence of the future of transportation with the future of insurance. We’re delighted to help them manage their holistic risk effectively, so they can focus on bringing more sustainable transport options to consumers and businesses in London and beyond,” saidEd Axon, global head of Business Development at Trov.

Trov’s Mobility Platform enables UFODRIVE to monitor, manage and mitigate its insured and uninsured risks more effectively, thereby shifting more resources toward business expansion.

About Trov

Trov is a global leader in embedded insurance for digital brands and new mobility services. Its Mobility Insurance Platform combines powerful software with bespoke insurance products to solve the risk management challenges facing companies in mobility and gig work. Trov’s customers include global enterprises such as Waymo (an Alphabet Company), PSA NA Car Sharing Solutions, Hyundai, Lloyds Banking Group, Sompo, and Suncorp.

Founded in 2012 by serial tech entrepreneur Scott Walchek, Trov is backed by leading venture capital firms and strategic partners.

About UFODRIVE

UFODRIVE is the first all-digital, all-electric car rental service controlled from an app. By combining state-of-the-art technology with futuristic electric cars, UFODRIVE offers a simple, easy and fast customer experience with no queues, no paperwork, no refuelling, no extra costs at one all-inclusive price.

Photograph: In this Tuesday, March 24, 2020 photo, a lone commuter waits at a bus stop in an otherwise deserted Regent Street in London, during the coronavirus lockdown. Photo credit: AP Photo/Matt Dunham.

Topics Mergers InsurTech Tech London

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