Mobility data and analytics company, Arity has entered into a partnership with Y-Risk, a company specializing in providing insurance solutions to the sharing and on-demand economy.
As shared mobility companies have limited historical data to anticipate risks that cause high operational costs and expensive insurance, Arity and Y-Risk will work to enable these companies to better manage and understand driving risk so they can work more efficiently with insurance carriers and streamline operational costs. The partnership will provide tools to identify and understand risks to control losses and loss-related costs.
Arity’s understanding of how driving risk affects accidents and claims leveraging Y-Risk’s underwriting experience will help shared mobility companies to:
• Instantaneously assess the risk distribution and profile of drivers.
• Track ongoing driving behavior and vehicle utilization to analyze exposure.
• Evaluate segmented pricing for customers.
Hence, Arity and Y-Risk will be defining how customized commercial coverage should work in today’s evolving transportation ecosystem.
Source: Press Release