According to Morgan Stanley, the shared mobility market is estimated to be worth $2.6 trillion by 2030. McKinsey & Company predicts that one out of every 10 cars will be a shared vehicle by 2030, and one out of every three vehicles will be shared by 2050.
Shared mobility comes in many forms such as bike sharing, scooter sharing, ride-sourcing, ridesharing, carsharing and taxis and limos. Advancements in mobile technology that allow users to summon cars and other vehicles from their smartphones have already made sharing more convenient, and more progress is to come.
Startups today are pushing new boundaries in all forms of shared mobility. With these new forms of shared mobility risks come new and different exposures.
Our Incubator Underwriting Unit developed a customized solution for Getaround, a San Francisco carsharing startup. The solution enables Getaround’s customers to select a car from their phone, hop in the car, and take their trip, knowing there is insurance coverage for the entire rental period.
Watch the full story about how Munich Re is shaping the future by helping Getaround change the world, one car at a time.
New Strategic Markets' underwriting unit provides Auto Liability and Physical Damage, Property and General Liability coverage in all 50 states for the following risks:
Companies that provide a mobile based digital platform that connects car renters with car owners.
Companies that provide a mobile based digital platform that connects passengers with drivers.