This Tel-Aviv based startup brokers on-demand insurance for 'episodic use' of drones, and will soon add e-scooters, speedboats, sailboats, jet skis and small planes to the mix
Voom cofounder and chief executive Tomer Kashi himself commutes on a scooter at home in Tel Aviv.Rates have not been finalized, but in a phone interview, cofounder and chief executive Tomer Kashi said that for such scooters, the flat rate coverage would be a fraction of the rental rate. Without a driving record to assess risk, premiums will be determined by location and time of day.
A 10-minute zip through Santa Monica on a Bird would likely rent for about $4. Voom's coverage for such"episodic use" would be less than that, around $2. That gives you peace of mind on liability - damage to another vehicle - as well as personal injury costs. The insurance won't cover the scooter you're on, because of its low replacement cost.
The plan is eventual national expansion, but Voom will prioritize states with the highest adoption of the products it will cover. Those are California, New York and Florida. "Basically, we want to offer the right coverage to people when they want it, as they need it,” said cofounder and chief technical officer Ori Blumenthal. “It’s natural, once we live in this on-demand economy… to provide the most flexible coverage."
Once Voom completes approvals for its on-demand insurance, coverage all verticals will be available via web and smartphone app.I am a Los Angeles-based freelance journalist fascinated with mobility and urbanism, the VCs fueling the innovators, and where it's all headed. Much of my work here carr...
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Madonna gets into Eurovision groove in Tel Aviv despite Palestinian criticismPop star Madonna took time out ahead of her scheduled guest performance at the E...
Read more »
Eurovision Song Contest Grand Final kicks off in Tel AvivIsrael hosts the Grand Final of the 64th Eurovision Song Contest, with Madonna set to showcase Europe's annual music extravaganza.
Read more »
The Netherlands wins Eurovision Song Contest in Tel AvivThe Netherlands won the 2019 Eurovision Song Contest in Tel Aviv Saturday, with Duncan Laurence's doleful piano ballad 'Arcade' crowned champion of Europe's annual music extravaganza.
Read more »
Facebook busts Israel-based campaign to disrupt elections in various countriesFacebook said Thursday it banned an Israeli company that ran an influence campaign aimed at disrupting elections in various countries and has canceled dozens of accounts engaged in spreading disinformation.
Read more »
Garcetti said he backs U.S. Embassy in Jerusalem. Now religious groups want an apologyLocal offices of the Council on American-Islamic Relations, Jewish Voice for Peace, the Episcopal Peace Fellowship’s Palestine Israel Network and other religious groups called on L.A.'s mayor to retract his statement of support.
Read more »
Wall St. slides as Huawei fallout hits tech sharesU.S. stocks fell as Washington’s crackdown on China’s Huawei stoked fears about a hit to the broader technology sector via ReutersTV
Read more »
On Eurovision final day, Israelis cheer as Palestinians protestAs singers made last-minute preparations for the Eurovision Song Contest in Tel ...
Read more »
On Eurovision final day, Israelis cheer as Palestinians protestAs singers made last-minute preparations for the Eurovision Song Contest in Tel ...
Read more »
'I don't do cover-ups': Trump denounces Democratic investigations and Mueller probe in the Rose GardenAfter meeting with Democratic leadership at the White House today, President Trump says 'I'm all set' to work on infrastructure and drug prices, but after congressional investigations end.
Read more »
'I don't do cover-ups': TrumpUS President Donald Trump denies opposition charges of a 'cover-up' related to the Russia election meddling probe, urging Democrats to end what he called 'phony investigations.'
Read more »