Home » Case Studies » Cuvva provides instant and hourly car insurance, so that users are covered according to the actual duration of car usage
Cuvva provides instant and hourly car insurance, so that users are covered according to the actual duration of car usage
Country: UK Year: 2014
Car rental services: an insurance company could provide a similar service to P2P car rental platforms to insure occasional drivers. It could also compete with insurance plans provided by car rental companies.
Prevention: an insurance company could propose Cuvva to young people to protect them in case of alcohol consumption by letting a secondary driver take over the driving wheel.
Family offer: Cuvva could be proposed to an insurance company’s customers with grown-up children, so that they can occasionally borrow the car, while getting familiar with the brand.
Cuvva has launched a mobile app (to date iOS only) that enables occasional drivers to get a quote and subscribe an hourly car insurance instantly. Eligible vehicles must already be covered by a regular annual policy and the driver must be over 21. Cuvva relies on the data provided by the driver: the information is verified by the insurer in the case of a claim.
Cuvva is integrated with the Motor Insurance Database (that reflects the cover) and updates it every hour.
Cuvva runs in the UK only (to date) and is an independent insurance intermediary. It is remunerated by receiving a percentage of premium by way of commission or brokerage.
5 pricing options cover 1, 2, 3, 4 and 24 hours ride durations. Users can extend their cover through the app at any time if needed.
Pay as you use cover: users get covered according to the amount of time they drive.
Instant insurance: Cuvva insurance starts immediately once paid by the user.
Mobile user experience: Cuvva is a completely mobile experience and is linked to the payment means, enabling a fluid customer journey.
How To Use
Users download the Cuvva app for free and register by entering their phone number, name, address, date of birth, then adding a picture of their driver’s license and a selfie.
They enter the registration number of the vehicle they want to drive and its approximate value so that the app can provide the quotes for several ride durations.
They select the appropriate plan, take a picture of the vehicle and proceed to in-app payment using Credit Card, Debit Card or Apple Pay.
Article “Cuvva app aiming to shake-up the world of car insurance”
Article “Cuvva, The U.K. Hourly Car Insurance App, Picks Up Investment” by TechCrunch
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