New York, NY (Dec. 12, 2016) – Northbridge Insurance is proud to announce that it will provide drivers of one of Canada’s fastest-growing ridesharing companies, RideCo, with an insurance solution that’s tailored to their needs.
Unlike a personal auto insurance policy, Northbridge Insurance’s new commercial ridesharing policy will cover drivers from the moment they are available to accept a ride request, up to the moment their passenger leaves their vehicle.
“We worked with RideCo to design coverage that would meet the needs of their drivers and passengers, and be simple and easy to use,” said Ilda Dinis, VP of Customer Experience and Marketing. “We’re excited to partner with an innovative Canadian company that’s focused on ridesharing.”
“Shared rides in dynamically routed vehicles are key to making microtransit successful, and filling in the gaps where traditional transit solutions are inconvenient or inefficient,” added Prem Gururajan, RideCo Founder and CEO. “Northbridge Insurance’s new insurance policy makes it easy for rideshare drivers to participate in the growth of microtransit services, thus making our cities more connected.”
Currently operating in the Waterloo region, passengers on the RideCo platform can easily book a trip door-to-door or hub-to-hub using the RideCo app. RideCo’s technology matches customers based on their route and facilitates shared trips, which often means passengers save money. Unlike other shared-ride solutions that are only offered in high density downtown cores such as Toronto, the RideCo solution provides great sharing in high density as well as lower density cities and suburb-to-city scenarios.
RideCo’s platform was recently utilized for a one-year microtransit pilot in Milton, through a partnership with Metrolinx and Milton Transit.
Ridesharing policy underwritten by Northbridge General Insurance Corporation.
Based in Waterloo, RideCo has created the next generation logistics and shared-mobility platform. Our technology enables door-to-door and hub-to-hub shared rides everywhere, including lower density regions currently unserved by existing solutions. RideCo is forging the future for shared mobility and microtransit. Visit rideco.com for more information.
About Northbridge Insurance
Northbridge Insurance is a leading Canadian commercial insurer. Working with our broker partners, we focus on understanding the needs of our customers and on creating solutions that make a difference to their success.
To learn more, please visit nbfc.com.