- The new product brings private and Uber driving together under a single policy, helping to reduce the risk of gaps in cover.
- The digital-first solution combines a fixed premium for private use with a rideshare premium based on the kilometres driven on the Uber platform.
- The collaboration demonstrates how customer insight, digital delivery and strong partnerships can come together to help solve an emerging insurance need.
Vero, part of Suncorp, has partnered with Uber and Cover Genius to launch a motor insurance product combining private and rideshare cover for eligible Uber drivers in Australia. Vero describes it as Australia’s first comprehensive rideshare motor policy with a pay-per-kilometre pricing model.
The fully digital policy is available through the Uber Driver app. It covers vehicles during both personal use and Uber rideshare activity under a single insurance arrangement.
Pricing combines a fixed premium for private vehicle use with a variable rideshare component. The rideshare premium is calculated according to the kilometres driven through the Uber platform each month.
Drivers therefore pay a higher rideshare component during months with greater Uber mileage. The charge falls when fewer kilometres are completed on the platform.
The structure is intended to address the changing use of vehicles between personal and commercial driving. Traditional personal motor policies or compulsory third-party insurance might not provide appropriate protection for all rideshare activity.
Laura Broughton, Head of Platform Business at Vero, said rideshare drivers often work different hours from one week or month to the next. She said a mileage-based structure gives drivers insurance pricing that follows those changing driving patterns more closely.
The policy includes cover for vehicle damage, theft or loss while the vehicle is being driven privately or for Uber rideshare purposes. Eligible drivers apply directly through the Uber Driver app rather than arranging separate personal and rideshare policies.
Uber Australia and New Zealand Head of Driver Operations Daniel Lopez said flexibility was central to the product design. Drivers purchasing the optional insurance pay more during periods of heavier rideshare activity and less when their Uber mileage declines.
Cover Genius provides the embedded insurance technology supporting the offering. The company said pay-per-kilometre pricing reflects growing demand for insurance products distributed directly within digital platforms.
Barney Pierce, Chief Business Officer at Cover Genius, said working and household spending patterns have changed alongside customers’ expectations for digital services. He described the product as an example of more modular insurance being incorporated into everyday platforms.
Vero contributes the underwriting and motor insurance component, while Uber provides access through its driver platform. Cover Genius supplies the embedded protection infrastructure used to distribute the policy digitally.
For Suncorp, the arrangement extends Vero’s motor insurance offering into rideshare activity through usage-based pricing. Eligible Uber drivers in Australia now have the option to apply for the cover directly through the Uber app.
