I talk to a lot of people who are interested in starting their own companies: rideshare, shared fleets, scooters and more. One thing they’re always surprised by? The enormous cost of insurance. In this episode, I talk to Ed Walker about the impact of insurance costs on fleet owners, how telematics can help, and more.
Intro to Ed Walker
Second time on the podcast!
Vice President at USI Insurance Services
Goal is to ease the burden of insurance on mobility operators
He is THE guy to talk to about all things shared insurance!
Fleets + Insurance Costs
The more vehicles a fleet owner has, the more important it is to get away from the a la carte model
Traditional insurance carriers have a lot of barriers
Working with USI, there’s a greater ability to get those prices down
Most Expensive Part of Being a Fleet Owner
Premiums – the total cost of risk
Lack of control really drives up the price
Drivers are not employees – leads to unpredictability
Telematics + Fleet Ownership
Telematics – shows where vehicles are, how they’re driving, etc.
The best companies have a dashboard that tracks this info
Argyle is doing a better job than most in identifying rideshare periods
Future of Telematics + Insurance
A lot of carriers will provide what seems to be cost-competitive quotes, but there are redundancies
Those costs add up
There are ways to drivers to prevent accidents – telematics can help
Outro
Thanks to Ed for coming on the show and sharing his opinion on the fleet space!
I’ve been getting a lot of questions lately about fleet ownership and wanted to address the cost factors – Ed helped break it down for us!
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About The RideShare Guy:
I'm Harry, the founder of The Rideshare Guy. I started driving for Uber and Lyft in 2015 and eventually quit my day job as an aerospace engineer to run The Rideshare Guy full time.
These days, I'm a trusted media expert on all things rideshare and have a number of contributors across the country who are all driving for Uber and Lyft and other gig companies like Instacart, Doordash, and Postmates.
The RideShare Guy has appeared in The New York Times, The Wall Street Journal, CNN, CNBC, NPR, 60 Minutes on CBS TV, The Washington Post, Wired, Forbes, SFGate, and hundreds more.
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The RideShare Guy has interviewed top gig economy leaders and reporters such as
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• Executive Director Automotive Research Stanford, Dr. Stephen Zoepf, PhD MIT
• Senior Tech Policy Reporter at Ars Technica Tim Lee
Harry also consults for both established corporations and start-ups. - [ Ссылка ]
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