Digital managing general agency Roamly will link with Hippo-owned carrier Spinnaker Insurance Co. to sell insurance for recreational vehicle rentals.
Roamly is owned by Outdoorsy, a global online RV rental and outdoor travel marketplace. Earlier this summer, Outdoorsy raised more than $120 million in equity and debt financing to help fuel its own growth and the expansion of Roamly in the U.S. and in Europe.
Roamly provides digital insurance products for RV owners without the commercial exclusion clause that traditionally prevents online rental activity. Spinnaker’s platform will let Roamly underwrite and sell insurance policies for RV owners from the initial application through the handling of a claim. The arrangement lets Roamly cover RV renters who are on or off the Outdoorsy platform.
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In turn, this is Spinnaker’s debut in the RV sector, the companies said.
Spinnaker’s President and CEO Torben Ostergaard said that the partnership will help Roamly optimize its insurance operations and “become more profitable and viable over time.”
The deal makes Roamly’s RV insurance available in Utah, Colorado, and Arizona, with additional states pending. Roamly already sells RV, homeowners and auto insurance through other carriers across the United States.
Source: Spinnaker/Hippo, Outdoorsy/Roamly
Topics Insurance Wholesale
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