Monday, June 18, 2018

SURE Targets Uber and Lyft Passengers With New Insurance Product

Los Angeles- and New York-based SURE, which develops an app that makes it easy to purchase insurance on demand through a smartphone, has launched a new insurance product aimed at passengers of ridesharing services. According to SURE, which is led by CEO Wayne Slavin, its new product, RideSafe, provides passengers with insurance coverage when they are using ridesharing networks Uber and Lyft. SURE said the new insurance offering--underwritten by Chubb--lets rideshare passengers purchase purchase accidental medical expense and accidental death and dismemberment coverage on an episodic basis. The new insurance product automatically connects with a user's Uber or Lyft account, and is available in 38 states. SURE is venture backed by y IA Capital, Menlo Ventures, FF Venture Capital, Nationwide Ventures, Assurant and AmTrust.

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