9 years ago

Cuvva Raises £1.5 Million to Launch Pay-As-You-Go Car Insurance for Infrequent Drivers

  • Scottish startup Cuvva has raised £1.5 million in a round led by LocalGlobe to launch a new type of car insurance for infrequent drivers

  • The new product will allow users to pay a monthly subscription and then purchase premium 'top up' insurance by the hour when they plan to drive their car.

      • ProblemFinancial Services

      "Traditional car insurance is expensive for people who drive infrequently, as they pay for a whole year of coverage even if they only use their car a few times a month."

      Solution

      "Cuvva offers a pay-as-you-go car insurance model that allows drivers to only pay for insurance when they need it, making it much more affordable for infrequent drivers. They can purchase hourly insurance through their mobile app, starting at £1.20 an hour."

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