Insurance software company EIS has launched a digital platform to let insurers price cover for drivers, no matter whether their vehicle usage is personal or commercial.

The platform, EIS UBI, enables insurers to rate their policies on how far, how well, when and why people drive.

The first version of the platform is for ridesharing, allowing insurers to offer continuous cover as a driver flips from personal to commercial use of a vehicle.

Rideshare drivers can transition through four phases that cross over commercial and personal lines of cover. They are: off the clock, on the clock waiting for the first customer, pickup and driving to the destination, and on route to the next pickup.

Joel Yarde, technology marketing lead at EIS, said: “We are solving one of the biggest challenges to insurers as consumers increasingly demand coverage tailored to fit their lifestyle, be it infrequent drivers seeking mileage-based policies, safe drivers who want to be rewarded for their good driving habits, or drivers earning income from ridesharing, carsharing, and other commercial uses.

“EIS UBI enables insurers to innovate and deliver products for specific uses, take better advantage of telematics and deliver a great customer experience.”

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