Roamly has been appointed as a Lloyd’s Coverholder, a milestone that enables the InsurTech to underwrite insurance directly on Lloyd’s balance sheet.
The designation marks a vote of confidence in Roamly’s underwriting discipline and positions it to better serve the sharing and mobility economies, according to FF News.
“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, Roamly’s parent company.
“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,” he added.
The Coverholder status recognises Roamly’s ability to offer tailored insurance products for complex marketplace environments.
Christopher Moore, President of Apollo ibott 1971, who supported the designation, 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.”
