HyreCar Renews Insurance Program with Lloyd's Apollo Insurance Syndicate until 2023
May 20 2021 - 9:00AM
Business Wire
HyreCar Inc. (NASDAQ: HYRE), the carsharing marketplace for
ridesharing and delivery, announced that it has renewed its
Automobile Liability Insurance Program with Apollo 1969 of Lloyd’s
until 2023 at our current rates, providing stable predictable
insurance pricing for the next two years.
“HyreCar has developed an enhanced risk tiering model at the
most granular level available today. We use driving efficiency and
safety data as a key component in our dynamic pricing model that
helps ensure we rent to the right drivers and reduce the cost of
insurance at the same time. HyreCar is continuously working towards
building a safer rental experience for our vehicle supply partners.
Insurance is a key component of our model that this partnership
reflects all the hard work we have done over the last year to
ensure favorable insurance rates for all of our partners,” said Joe
Furnari, Chief Executive Officer of HyreCar.
HyreCar has also completed integration with Sedgwick, a leading
insurance claim processing partner for many top companies in
rideshare transportation and food delivery.
“As part of our ongoing strategy to build strong and lasting
relationships with key business partners, implementation of this
risk financing solution with Apollo marks another large milestone
in this maturing partnership. Along with HyreCar’s recently
implemented partnerships with Sedgwick, our new TPA, and AON we
should be well positioned to meet our future business objectives,”
said David Bertsch, Director of Risk Management at HyreCar.
“Apollo is proud to continue its partnership with HyreCar and
AON. Apollo believes strongly in data driven underwriting and
long-term relationships and HyreCar continues to exhibit extremely
strong risk management and a staunch commitment to evolving their
insurance solution to be an industry leader and add as much value
and trust to their growing user base,” said Christopher Moore, Head
of ibott at Apollo 1969 of Lloyd’s.
About HyreCar
HyreCar Inc. (NASDAQ: HYRE) is a nationwide leader operating a
carsharing marketplace for gig economy services nationally via its
proprietary technology platform. The Company has established a
leading presence in Transportation as a Service (TaaS) through
individual vehicle owners, dealers and OEM’s, who have been
disrupted by automotive asset sharing. By providing a unique
opportunity through its safe, secure, and reliable marketplace,
HyreCar is transforming the industry by empowering all to profit
from TaaS. For more information please visit hyrecar.com.
About Apollo:
The Apollo Syndicate 1969 has a history of innovation and this
stems from one of the original investors; Neil Armstrong, the first
man to walk on the Moon. The Syndicate number of 1969 was selected
to celebrate his amazing achievement. Apollo has established a
dedicated team focussed on insuring new sharing economy and future
mobility. Under their ibott brand (“insuring the business of
tomorrow today”), they seek to partner with insured’s that truly
have an affinity for risk management and want to partner with
insurers to create future proof insurance solutions to enable
sustainable growth for their companies.
About Aon
Aon plc (NYSE:AON) is a leading global professional services
firm providing a broad range of risk, retirement and health
solutions. Our 50,000 colleagues in 120 countries empower results
for clients by using proprietary data and analytics to deliver
insights that reduce volatility and improve performance.
Follow Aon on Twitter: https://twitter.com/Aon_plc Sign up for
News Alerts: http://aon.mediaroom.com/index.php?s=58
Forward-Looking Statements
Statements in this release concerning HyreCar Inc.’s (“HyreCar”
or the “Company”) future expectations and plans, including, without
limitation, HyreCar’s future earnings, partnerships and technology
solutions, its ability to add and maintain additional car listings
on its platform from car dealers, and consumer demand for cars to
be used for ridesharing, may constitute forward-looking statements
for the purposes of the safe harbor provisions under the Private
Securities Litigation Reform Act of 1995 and other federal
securities laws and are subject to substantial risks, uncertainties
and assumptions. You should not place reliance on these
forward-looking statements, which include words such as “could,”
“believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,”
“continue,” “predict,” “potential,” “project” or similar terms,
variations of such terms or the negative of those terms. Although
the Company believes that the expectations reflected in the
forward-looking statements are reasonable, the Company cannot
guarantee such outcomes. HyreCar may not realize its expectations,
and its beliefs may not prove correct. Actual results may differ
materially from those indicated by these forward-looking statements
as a result of various important factors, including, without
limitation, market conditions and the factors described in the
section entitled “Risk Factors” in HyreCar’s most recent Annual
Report on Form 10-K and HyreCar’s other filings made with the U. S.
Securities and Exchange Commission. All such statements speak only
as of the date made. Consequently, forward-looking statements
should be regarded solely as HyreCar’s current plans, estimates,
and beliefs. Investors should not place undue reliance on
forward-looking statements. HyreCar cannot guarantee future
results, events, levels of activity, performance or achievements.
HyreCar does not undertake and specifically declines any obligation
to update, republish, or revise any forward-looking statements to
reflect new information, future events or circumstances or to
reflect the occurrences of unanticipated events, except as may be
required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210520005651/en/
Scott Brogi Chief Financial Officer scott@HyreCar.com
John Evans Investor Relations 415-309-0230
j.evans@HyreCar.com
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