INSHUR, a leading provider of insurance solutions for rideshare drivers, has recently secured $26 million in funding and acquired American Business Insurance Services (ABIS) to enhance its all-in-one insurance platform. The move is aimed at expanding INSHUR’s reach and capabilities in the rideshare insurance market, which has seen significant growth in recent years.
The funding round was led by Viola Fintech, a venture capital firm that specializes in fintech investments. The funds will be used to further develop INSHUR’s technology platform and expand its operations in the United States and Europe. The acquisition of ABIS, a New York-based insurance brokerage firm, will also help INSHUR to strengthen its position in the US market.
INSHUR’s all-in-one insurance platform is designed to provide comprehensive coverage for rideshare drivers, including liability, collision, and personal injury protection. The platform is fully digital and allows drivers to purchase and manage their insurance policies online, without the need for any paperwork or phone calls.
The platform also offers real-time pricing and underwriting, which means that drivers can get a quote and purchase their policy within minutes. This is a significant improvement over traditional insurance policies, which can take days or even weeks to process.
INSHUR’s platform is also designed to be flexible and customizable, allowing drivers to choose the level of coverage that best suits their needs. This is particularly important for rideshare drivers, who may have different insurance requirements depending on their driving habits and the type of vehicle they use.
The acquisition of ABIS will further enhance INSHUR’s capabilities in the US market. ABIS has been providing insurance solutions to businesses and individuals for over 35 years and has a strong reputation for customer service and expertise in the insurance industry.
INSHUR CEO Dan Bratshpis said in a statement, “We are thrilled to have secured this funding and to have acquired ABIS. This will allow us to continue to innovate and provide the best possible insurance solutions for rideshare drivers. We are committed to making insurance simple, transparent, and affordable for everyone.”
The rideshare insurance market is expected to continue growing in the coming years, as more people turn to ridesharing services like Uber and Lyft. INSHUR’s all-in-one insurance platform is well-positioned to capitalize on this trend, providing drivers with a convenient and affordable way to protect themselves and their passengers while on the road.
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