Trov partners with electric car rental service UFODRIVE

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The car rental market size was valued at $82.1 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.6% during 2023-2026. The car rental (hiring of a passenger vehicle for self-drive, which includes cars and small vans, by both business and leisure travelers

The UFODRIVE team will use Trov's Mobility Platform to monitor, control, and reduce their insured and uninsured risks. Context-based commercial insurance, which is managed by UK Insurance Business Solutions under NIG and is part of the Direct Line Group, is also included.

With its headquarters in Luxembourg, UFODRIVE is a digital, all-electric, sustainable car rental platform. In addition, it operates in the United Kingdom, Austria, Germany, Belgium, Ireland, the Netherlands, and France. Also planned is a move to the US.

Jonathan Shine, who oversees UFODRIVE's UK operation, stated, "The team at Trov have been able to develop an insurance program to suit our unique needs."

"We have implemented a solution for optimal vehicle utilization and uptime by complementing our coverage with Trov's Risk Operations Technology — a critical ingredient for success in 2021."

“The crucial convergence of the future of transportation and the future of insurance is highlighted by this partnership with UFODRIVE, which is the first of, we hope, many for Trov in the UK market. Ed Axon, global head of business development at Trov, stated, "We're delighted to help them manage their holistic risk effectively, so they can focus on bringing more sustainable transportation options to consumers and businesses in London and beyond."
A parent company of Zerology, Mobility Transformation, selected Trov in March 2020 to provide an insurance product for electric vehicle fleets that is driven by data.

Zerology's carshare fleet of Tesla Model 3s in Madison, Wisconsin, will be powered by Trov's Mobility Insurance Platform.

Trov will use anonymized vehicle data from Zerology's Tesla fleet to address Zerology's complex risk management issues under the terms of the agreement.

Zerology's fleet will incorporate Trov's technology.

Following the mix, Zerology will be the primary organization to utilize individual Tesla vehicle information to illuminate an on-request business protection offering.