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(Picture credit score: Francesca Tosolini/Unsplash.)
Oyster, an insurance coverage know-how firm and distributor offering private insurance coverage by way of seamless point-of-sale and post-purchase experiences, has introduced the launch of a brand new rental insurance coverage product. This presents the primary usage-based rental insurance coverage program within the U.S., offering rental outlets and marketplaces with theft and harm protection for his or her rental bikes, ebikes, kayaks, and paddleboards by way of Oyster’s trendy platform, in response to an announcement from the corporate.
Vic Yeh, CEO and Co-Founder, Oyster.
“The increasing rental market presents danger challenges for companies as a result of distinct nature of renting an merchandise,” feedback Vic Yeh, co-founder, CEO, Oyster. “Leveraging Oyster’s tech-driven underwriting platform, we at the moment are in a position to present complete protection for the quickly rising rental market.”
Oyster says its rental insurance coverage allows companies to safeguard their rental property for rental, lease, and subscription. The corporate provides that its usage-based pricing mannequin ensures that riders or companies solely pay for insurance coverage in the course of the period of the rental. The protection encompasses safety in opposition to theft, harm, and pure disasters, spanning from a single day to over a yr. Built-in seamlessly into Oyster’s platform, companies can effortlessly provide this protection to their clients with a user-friendly interface and a real-time digital expertise, the Oyster assertion concludes.
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