Think back to the last time you rented a car - you’re at the rental branch trying to understand if you need to buy a waiver, or if your own auto insurance will cover you. You fumble through your insurance documents or call your insurance carrier to figure it out.
Why can’t someone just tell you if you’re covered? That’s why we built Axle, to bridge the gap between insurance and parallel industries through a universal API for insurance data.
Today, we’re pleased to announce a partnership with Getaround (NYSE: GETR), the world's first connected carsharing marketplace. The collaboration will enable Getaround guests to bring their own insurance to the platform, providing them more flexible protection options and control of their carsharing experience.
Automating insurance verification
Despite the availability of connective technology in many other industries (e.g., banking), the insurance industry still relies heavily on paper and lengthy phone calls to interact with third parties. This leaves high-risk organizations, such as rental car companies and carsharing marketplaces, struggling to accurately assess risk and make informed decisions at scale.
With Axle, users can share information directly from their insurance carrier, enabling applications to see information about their insurance policy in real time. For carsharing marketplaces like Getaround, this means reducing operational risk, while providing better pricing and a seamless experience for their guests.
This partnership with Getaround brings us a step closer to our mission of making insurance data more accessible to parallel industries. Learn more about our partnership in the full press release here.
Interested in learning more about Axle and what else we have coming? Reach out here.