If you don't have a car of your own, this app allows you to get hourly car insurance. Based in Edinburgh, the Cuvva app is a temporary insurance solution for your friend's cars.
This on-demand mobile application is ideal for people who live in cities with advanced public transportation options and find car ownership superfluous. This would also come in handy for people looking to share driving responsibilities, designated drivers in drinking situations and drivers of a family car.
Instead of relying on the owner's insurance, which usually only have 24 hour coverage and considerable paperwork involved, this time-honoring platform allows friends to drive each other's cars with more piece of mind. The app enables users to sign up for short-term insurance, including hourly car insurance, all through an easy to use smartphone app.
On-Demand Insurance Apps
Cuvva Offers Hourly Car Insurance for When You Drive Your Friend's Car
Trend Themes
1. On-demand Insurance - This trend of providing insurance coverage on-demand presents an opportunity for insurers to tap into new markets and offer flexible and personalized coverage options.
2. Hourly Insurance - The rise of hourly insurance services like Cuvva opens up opportunities for insurers to create innovative products tailored to specific timeframes, allowing customers to save money and have more control over their coverage.
3. Temporary Insurance Solutions - The demand for temporary insurance solutions reflects a growing need for flexible and on-demand coverage options, presenting an opportunity for insurance companies to develop specialized policies catering to short-term needs.
Industry Implications
1. Insurance - The insurance industry can leverage on-demand insurance apps and develop innovative policies to cater to new customer segments and provide greater flexibility in coverage.
2. Sharing Economy - The rise of on-demand insurance apps like Cuvva aligns with the sharing economy trend, offering disruptive opportunities for insurers to tap into this market and provide insurance tailored specifically for peer-to-peer sharing transactions.
3. Mobility Services - The emergence of hourly car insurance services highlights the need for insurance providers to collaborate with mobility service providers, offering insurance options that align with the evolving needs of customers who rely on flexible transportation alternatives.