AXA XL has announced the launch of Vehicle Interruption Cover, an innovative, on-demand insurance solution designed to protect Uber drivers across the UK against a loss of earnings due to their vehicle being immobilised after an accident.
The new solution works alongside Uber’s newly implemented UK loyalty programme, UberPro, and provides a lump-sum benefit of up to £450 to drivers if their vehicle is damaged after an accident and is off the road for more than 24 hours.
For UberPro customers at the Diamond Level, AXA XL states that this premium will be paid for by Uber.
Initially, the product will be offered to all Uber drivers in the UK, with the view to expand the service to other parts of Europe. Protection is available for all drivers on the Uber app and is fully flexible to fit drivers’ varied workstyles. An announcement on the product notes that drivers can purchase the new solution in a few clicks through the Uber app, with the premium automatically collected from completed Uber trips.
To enable this new solution, AXA XL utilised a new global Affinity Insurance Platform developed by AXA to serve the needs of digital communities. AXA XL explains that this public cloud technology platform supports agile product design and API-led distribution, which is connected in real-time with the Uber app.
Ultimately, the new platform enables AXA XL to develop and provide new innovative insurance solutions in the future to Uber partners and couriers.
Chief Executive Officer (CEO) of UK Legal entities at AXA XL, Paul Greensmith, said: “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.”
Russell Corbould-Warren, Head of Insurance, Uber, Europe, Middle East and Africa, added: “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, Uber Pro. Uber and AXA share the belief that drivers should have access to affordable and portable insurance protections that create a safety net for a sustainable and flexible workstyle.
“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.”
