AUSTIN, Texas — Roamly, a global leader in digital insurance technology and solutions, today (July 11) announces its appointment as a Lloyd’s Coverholder. This prestigious designation signifies delegated underwriting authority from Lloyd’s of London, reinforcing Roamly’s deep expertise in complex, specialized underwriting, a capability crucial for powering mobility solutions like carsharing, according to a release.
Launched in February 2021 as an insurtech division and wholly owned subsidiary of Outdoorsy, a peer-to-peer RV sharing platform (See: “Outdoorsy Launches ‘Roamly’ as New Insurtech Division”), Roamly offers a technologically advanced platform that provides insurance companies with AI-enabled software modules to develop insurance products, increase speed to market, and mitigate risk.
With its Lloyd’s Coverholder approval, Roamly is empowered to underwrite and insure customers directly on Lloyd’s balance sheet, reflecting the highest level of trust and confidence in Roamly’s underwriting capabilities to foster the evolution and growth of the sharing and on-demand economy, the release continued.
A New Standard for Global Insurance Expertise
Lloyd’s of London is the world’s leading insurance and reinsurance marketplace. The Coverholder designation is a recognition of Roamly’s underwriting expertise and discipline to Lloyd’s standards. As a Lloyd’s Coverholder, Roamly steps into a rarified
class of global insurers with capacity to innovate and introduce new offerings for marketplaces faster and with greater credibility to customers across the U.S. and Canada.
Leadership Perspectives on a Milestone Achievement
“Becoming a Lloyd’s Coverholder is an exceptional achievement, as only a select number of outstanding partners are approved each year. This designation underscores Roamly’s commitment to being actuarially led delivering low loss ratios paired with best-in-class insurance products and backed by financial strength, said Jeff Cavins, CEO of the Outdoorsy Group. “More importantly, it’s a critical enabler for the future of shared mobility. From RVs and campervans to carshare and emerging transportation models like cybercabs, the sharing economy demands specialized, agile insurance. This appointment positions Roamly to introduce new offerings faster and with greater credibility, expanding our marketplace offerings to partners and providing even greater value to customers who are embracing new ways to travel and share assets. It reinforces our role as a trusted brand in the specialty insurance space, ready to power the next wave of innovation.”
The sharing and on-demand marketplaces have complex needs given the multiple buyers and sellers and when the physical products are maintained and used by owners and when they are rented or loaned. Insurance can be barriers to growth and evolution of marketplaces with their complex needs. Roamly’s marketplace insurance expertise coupled with Lloyd’s Coverholder capabilities can unleash a new level of growth for marketplace economies.
Christopher Moore, President of Apollo ibott 1971, who supported the Lloyd’s Coverholder designation of Roamly, said, “Consistent with our goal to build long-term sustainable insurance partnerships for our future, we look forward to ongoing partnership and collaboration with Roamly. Since we first met, we were impressed with Roamly’s clear underwriting framework and risk management for specialized vehicles and marketplaces. Roamly has a track record for introducing new, high-quality offerings to niche markets like on-demand, shared marketplaces, and I’m excited to be teaming up on what we create together.”
Driving Future Growth in the Sharing, On-Demand Economy and Beyond into Mobility
Roamly’s appointment marks a significant milestone in its mission to redefine the insurance landscape and to create new opportunities in marketplaces, further solidifying its reputation as a trusted partner in the sharing and on-demand economy and mobility
market. It enables Roamly to offer highly tailored insurance solutions for marketplaces, backed by the unmatched financial strength and global reputation of Lloyd’s of London. This level of authority enhances Roamly’s ability to innovate and respond quickly to customer needs while maintaining the highest underwriting standards. For policyholders, it means greater confidence in the reliability and security of their coverage, solidifying Roamly’s position as a leader in specialized insurance for the entire spectrum of the sharing, on-demand, and future mobility economies.
To learn more about Roamly insurance products for consumers, visit roamly.com and for businesses, visit enterprise.roamly.com.
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