Cuvva provides instant and hourly car insurance, so that users are covered according to the actual duration of car usage

Country: UK
Year: 2014cuvva

  • 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.

Concept

  • 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.

Consumer Benefits

  • 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.

Illustration

  • Article “Cuvva app aiming to shake-up the world of car insurance”
    • cuvva1
  • Article “Cuvva, The U.K. Hourly Car Insurance App, Picks Up Investment” by TechCrunch
    • cuvva2
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