Direct Line Group has partnered with car subscription service Drover to insure its consumer vehicle base.
Under the partnership, NIG’s fleet insurance policy will be integrated with Drover’s online booking process so that the insurtech company’s customers are insured when taking out a subscription on a vehicle.
The new partnership will significantly reduce the cost of usership for some of Drover’s customers with monthly insurance prices starting as low as £37, according to Direct Line.
The new deal means Drover customers will pay a highly customised price for their all-inclusive subscription, based on a number of factors, including Drover’s propriety machine learning technology developed in-house.
The process of adding and removing cars to the policy works through Drover’s online platform, saving time and money on admin when compared to traditional insurance or car leasing products.
Drover, founded in the UK in 2015, offers consumers and private hire drivers an all-inclusive car subscription service. A subscription provides exclusive use of a car with insurance, maintenance, breakdown cover and more all included under one convenient monthly payment.
The insurtech company has raised £7.5 million in funding to date, while forming partnerships with manufacturers such as BMW, Volkswagen and Toyota.
Rebeca Clapham, head of UK business insurance solutions at Direct Line, said: “We’re really excited about working in partnership with Drover. We love their fresh-thinking approach to accessing a vehicle and are thrilled to be part of this unique customer proposition!”
Rob Prager, head of insurance and risk at Drover, said: “We’re delighted to have partnered with Direct Line Group who are a market leading trailblazer for insurance in the UK. Their pedigree for developing innovative motor insurance products makes them the very best possible insurance partner as we scale to new heights.”
“The product we have jointly developed takes the very best learnings from commercial and personal lines worlds and leverages Direct Line Group’s renowned capabilities across pricing, underwriting and claims. In keeping with our ‘Cars Made Easy’ ethos, we can now offer our subscribers even more value and flexibility than they’ve ever had before.”