Des Moines, Iowa, Sept. 06, 2017 (GLOBE NEWSWIRE) —
FOR IMMEDIATE RELEASE
Midwest Based Insurtech Startup, Pablow, Adds 50 State Car Rental Insurance to its Portfolio
Des Moines, Iowa – September 5, 2017 – Pablow, Inc. (Pablow), an innovative insurtech startup focused on improving access to and utilization of niche and on-demand travel insurance products globally, is pleased to announce the immediate availability of car rental insurance via their platform. The initial release is through Bonzah.com, a brand focused on reducing the cost to insure rental cars in the U.S.
“Millions of travelers each year fall victim the insurance trap at the rental car company’s pickup counter.” said Steve Sherlock, co-founder of Pablow. “Many travelers don’t realize that there is a low-cost alternative to the $40 per day rental car insurance offered at the pickup counter. We are able to offer primary insurance covering $35,000 in damage for just $7.99 a day. Additionally, the policy carries a $0 deductible meaning the renter neither has to claim on their car insurance policy nor risk a hefty deductible or potential premium hikes.”
An experienced renter, Sherlock has not owned a car since 2008, and when he does rent, he finds the thought of having to pay companies like Hertz, Avis and Enterprise up to $40 a day for insurance unreasonable. Offering insurance on Bonzah.com is the result of Sherlock’s determination to provide travelers with an affordable and convenient protection alternative to the US rental giants’ exorbitant rental car insurance.
The United States car rental insurance market that Pablow is entering is colossal with around 110 million reservations made by 70 million customers each year at an estimated worth of $28 billion according to 2016 market data. The problem with the market right now, as industry expert Ed Perkins explains, “is that rental companies grossly overcharge for collision coverage. Typically, you can pay up to $30 a day — sometimes even more than the base rental rate. It’s a huge profit center.”
Pablow has partnered with Arch Insurance Group to underwrite the car rental damage insurance policy across the country. As a digital agency licensed in all 50 states and D.C., Pablow is on a mission to democratize accessibility to travel insurance by streamlining the entire distribution process, while helping large insurance companies – like Arch – to onboard new distributors in realtime. Travel brands are now able to access both vacation rental trip cancellation and car rental insurance products from Pablow’s realtime onboarding process called Pronto.
A 2015 graduate of the Global Insurance Accelerator cohort, Pablow’s commitment to the travel insurance segment has enabled the company to build trusted relationships with respected insurance company partners, including IMG, Allianz Global Assistance, AIG Travel Guard, Arch and iTravelInsured.
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About Pablow, Inc. (Pablow)
Pablow Inc. (Pablow) is an innovative insurtech startup and 2015 Global Insurance Accelerator graduate focused on improving access to and utilization of short-duration insurance product in the vacation rental, car rental and travel insurance categories globally. Working with leading travel insurance companies, Pablow developed a unique policy offering which makes the benefits of vacation rental insurance available after the sale of and final payment for any given travel package, but before actual travel begins. Via Pronto, Pablow’s proprietary website creation tool, travel brands can now access car rental insurance as well, without the need for contracts, insurance licensing or the need to develop their own technology. For more details please visit www.pablow.com.
Steve Sherlock(650) 471-4495 firstname.lastname@example.orgPablow Inc.321 E Walnut Street, Suite 130Des Moines, Iowa 50309