Volvo Trucks partners with VFS iLabX Alumni REIN
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. In doing so, they are afforded a quicker and more convenient insurance experience, further enhancing overall communication and service levels.”
Stephen Yonce, Vice President, Volvo Financial Services
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. 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.”
Peter Voorhoeve, President, Volvo Trucks North America
The new service enables enhanced capabilities, allowing customers to access different coverages, make claims and handle their other insurance-related needs online. The pilot program, connecting Mack and Volvo customers, insurance companies, and dealers, is currently available in select U.S. markets.
“Mack is pleased that our customers will be able to have a simpler, more convenient insurance experience. The service being piloted will soon enable insurance providers to reach customers in real-time through their devices, enhancing overall communication and service levels.”
Jonathan Randall, SVP of North American sales and commercial operations, Mack Trucks