IBOTT
that platform . That ' s an example of how insurance can tie in that customer loyalty . So when you start thinking about that , the whole product itself has to change . Insurance in this space is not just about balance sheet protection . Strategically positioned insurance can be a USP for a marketplace platform ."
Creating a disruptive service Interaction with customers is critical to the process . The plan must fit each user perfectly . “ Am I speaking to the individual giggers or the individual drivers ? Or am I speaking just to the platform ?” Moore says . “ You ' ve got a whole compliance and regulation piece that fits around that type of policy . The real opportunity within this space is that you ' ve now got a real closed pool of addressable premium .”
He explains , “ If I wanted to insure a fleet of drivers and I was trying to sell to those individually it ' s a huge marketing spend , a huge amount of administration and a difficult risk selection process . A partnership with a platform , on the other hand , permits 100 % driver acquisition through a bundled commercial purchase , and unlocks the potential for my team and I to start doing a lot of things with the data that can drive safer and thus improved performance .”
118 March 2022