HyreCar, a carsharing marketplace for ridesharing, has introduced a solution that will focus on creating insurance tailored to the industry.
Furthermore, the venture has been launched in collaboration with American Business Insurance Services (ABI) CEO Dave Haley. Also in the mix is LILCHA CEO Peter Foley.
“I am thrilled to be working with Joe and Dave in this new and exciting sector. After more than 35 years in the insurance industry, I am excited to be a part of some new and exciting opportunities that will drive innovation for HyreCar and ridesharing,” Foley noted.
The venture is designed to lower insurance risk and boost profit margins, the American firm said.
HyreCar CEO Joe Furnari said: “Peter and Dave have been with HyreCar from the beginning, and this announcement cements our relationship with two of the most well-respected industry veterans in the commercial auto insurance business.
“This collaboration confirms HyreCar’s continued commitment to the ridesharing industry and providing scalable InsurTech solutions for users on the platform.”
The ridesharing firm has operations in 34 US states as well as in Washington, D.C..