Volvo Trucks Partners with VFS iLabX Alumni REIN to Offer Integrated Insurance to US Customers
Following the collaboration that took place in the VFS iLabX program, Volvo Financial Services has announced that it is working with leading insurtech company REIN to pilot an integrated digital insurance offering. The service’s enhanced capabilities will soon allow Volvo Trucks North America customers to connect in real time with insurance companies for a more seamless experience.
Through this partnership, VFS and REIN are powering a first-of-its-kind connected insurance program that not only solves trucking insurance pain points, but also comprehensively enhances the overall insurance experience – from ease of use, to coverage flexibility and seamless digital coverage management, with the goal of providing actionable risk insights that boost safety, inform product optimization and drive strategic business decisions.
This partnership follows the strategic investment that Volvo Financial Services made into REIN in December 2019.
“Through this offering, Volvo Trucks customers can easily access different coverage options, make claims and handle other insurance-related needs directly from a mobile phone, tablet or computer,” said Stephen Yonce, vice president Volvo Financial Services.
“In doing so, they are afforded a quicker and more convenient insurance experience, further enhancing overall communication and service levels.”
Volvo Trucks customers can currently access the service in select U.S. markets. VFS intends to launch the service nationwide in the U.S. with plans for future global expansion in select international markets
“This integrated service allows Volvo Trucks to harness the power of data to better serve our customers,” said Peter Voorhoeve, president of Volvo Trucks North America.
“Insurance companies will have the ability to leverage valuable information, whether that is their customer’s vehicle history for faster claims support or an operator’s responsible driving history to potentially reduce a customer’s insurance premium.”