On the heels of the insurtech’s international expansion to Canada, Roamly unveils its own insurance product in three states, including the ability to bundle RV, automobile and homeowners insurance policies nationwide for added savings.
AUSTIN, TEXAS – Outdoorsy, the most-trusted global online RV rental and outdoor travel marketplace, today announced the launch of a new RV insurance product offering in Utah, Colorado, and Arizona through its insurtech Roamly. These dedicated products add to Roamly’s suite of insurance products, including RV, homeowners and automobile insurance, already available across the United States.
Roamly provides innovative digital insurance products for recreational vehicle owners, eliminating the commercial exclusion clause that traditionally prevents online rental activity. Roamly’s mission is to solve for more than just affordable RV insurance.
“Our goal is to offer turn-key solutions for our customers to help cover all of their insurance needs, and we’re anxious to see the positive reception Roamly customers will have with this new offering,” said Outdoorsy’s Co-founder and CEO Jeff Cavins.
Through a partnership with insurance solutions provider Spinnaker, owned by Hippo Holdings Inc., Roamly can now build and underwrite its own insurance policies, fit for its growing customer base of RV owners across the country who rent through the Outdoorsy platform or simply own an RV.
This proprietary end-to-end RV insurance product affirmatively allows RV owners to rent their vehicles on the Outdoorsy platform, in addition to offering pricing incentives for RV owners who list their vehicles on the marketplace.
The partnership with Spinnaker also enables Roamly to bind a policy completely online as well as underwrite and deliver insurance offerings for RV owners from the initial application all the way through the handling of a claim.
“We are excited to bring this new insurance product to RV owners,” said Roamly’s Chief Insurance Officer Aaron Ammar. “This new partnership allows us to further serve our customers with our own ‘rent ready’ product and with better pricing that enables rentals on marketplace platforms.”
In June, Outdoorsy announced plans to use the recent $120M funding to drive its growth and expansion of Roamly. The $120 million raise includes a $90 million private placement equity round led by Moore Strategic Ventures, ADAR1 Partners, Monashee Capital, SiriusPoint Ltd, and Convivialite Ventures, the corporate venture group of Pernod Ricard, with participation from existing investors Altos Ventures, iAngels, and Greenspring Associates. Pacific Western Bank provided the $30 million debt facility.
In August, Outdoorsy announced the appointment of Aaron Ammar as Chief Insurance Officer of Roamly, as well as its launch in the Canadian market and the migration of Outdoorsy’s Claims Group to the Roamly Claims Group.
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