The first car insurance policy was purchased in 1897 by Gilbert J Loomis. Over 100 years later it’s still priced and purchased in exactly the same way.
Cuvva, the first app of it’s kind, lets you get car insurance on a friend’s car for an hour. They have spent the past thirteen weeks on the Barclays Accelerator (London) programme, powered by Techstars which yesterday culminated in a demo day. At this they announced they have already sold over a decade’s worth of hourly car insurance.
Growing 100% month on month for the past four months, Cuvva is fast demonstrating its ability to shake up the insurance industry.
In the day of on demand services, such as Uber, where you can order a car at the click of the button, or sophisticated car sharing app DriveNow, where you can hire a car by the minute, isn’t it about time car insurance catches up?
With Cuvva it now is – drivers can book as little as an hour’s car insurance, for as little as £7 in a matter of seconds. It’s revolutionising the way we think about driving, making millions of journeys that weren’t previously possible, possible.