Wednesday, October 3, 2018

HyreCar Eyes Insurance Market With New Joint Venture

Los Angeles-based car sharing marketplace HyreCar, which operates an online marketplace to connect car dealers and other car fleet owners with ride sharing drivers, says it is aiming at the insurance technology (insuretech) area with a new joint venture. According to HyreCar, it has entered into a strategic joint venture with Dave Haley, CEO of American Business Insurance Services (ABI), and Peter Foley, CEO of LILCHA Holdings, which will create an insurance offering specifically designed for carsharing in the ridesharing space. Financial details of the new JV, and the name of the new venture, were not announced.