New York partner Michael Halsband was quoted in The Wall Street Journal article “Grabbing an Uber? Now You Can Buy Your Own Insurance for the Ride,” discussing insurtech innovations.
The article notes that Chubb Ltd., one of the world’s biggest property-casualty insurers, has teamed with Sure Inc., a technology startup, to sell on-demand insurance to passengers of ride-hailing services to cover medical and other costs in the event of an accident.
Insurers are racing to develop new products to address the evolution of new technology and services, such as ride-hailing services and autonomous vehicles.
“There are many people, carriers and insurtech startups thinking of the implications of the ride-hailing world, the potential for gaps in insurance coverage and the opportunity to offer innovative new products,” said Michael, whose practice includes insurance-industry mergers and acquisitions as well as insurtech startups.
For carriers, these early products provide opportunities to collect data about how the personal-transportation world is evolving, he added.
Read “Grabbing an Uber? Now You Can Buy Your Own Insurance for the Ride.” (Subscription may be required.)