RSG210: Rideshare Insurance with a Driver Focus

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Insurance is an essential part of the rideshare industry, but it’s not always the most exciting topic. My opinion of insurance changed when I had the opportunity to chat with Douglas Ver Mulm of Stable Insurance. In this episode, I chat with Douglas about how Stable focuses on gig workers and rideshare/delivery drivers in particular.

Intro to Douglas Ver Mulm

  • Finance background, self-trained coder
  • Pre-Stable, worked as a lawyer, fleet owner
  • Took first Uber ride in 2011

Technology in Insurance

  • Dashboard telematics
  • Dash cameras
  • Tech that’s been around for the last 10 years!

Challenges of Insurance – How Stable Works

  • People were adding dash cameras as theft protection, etc.
  • Took a while for insurance companies to realize the value
  • Managing General Agent – Insure-tech
  • Dash-cam first company

Insurance Product

  • Illinois is the first market
  • Provides you the coverage you need
  • Optional insurance additions if drivers choose
  • Ex. Better deductibles if drivers choose

What’s Next for Stable?

  • June 22 launches in Illinois
  • Expanding into other states
  • Become a member of the Stable platform to track analytics, etc.

Show Notes

7 Reasons Why Uber and Lyft Drivers Are Quitting Rideshare!