Munich Re-backed Inshur plans to set up operations in the Netherlands

Munich Re-backed insurtech Inshur, a provider of commercial auto insurance for private hire drivers, plans to set up its operations in Amsterdam to secure passporting authority into other European markets.

The investment in the Netherlands follows its partnership with Uber wherein the start-up will launch new flexible insurance policies for drivers from late August 2020. Inshur will recruit Dutch specialists to service the local market.

"Our growth into the Dutch market underlines the change taking place in the insurance landscape," said Dan Bratshpis, CEO of Inshur. "The new mobility age, led by companies like Uber, demands a new type of protection and Inshur addresses the gap where traditional insurance companies struggle to keep up. We will bring an entirely new digital insurance experience to the market. We aim to support and protect drivers, provide them with choice and flexibility and help make insurance more accessible and affordable."

Jeroen Nijland, commissioner of the Netherlands Foreign Investment Agency (NFIA), commented: “I am delighted that Inshur has chosen to set up its operations in the Netherlands. Inshur adds to our strong IT cluster, which is further proof that our country is very attractive for global businesses operating at the forefront of information and technological developments. With uncertainty all around, we welcome companies like Inshur that look for a stable and thriving future. Inshur will benefit from the Netherlands’ position in the heart of Europe, great access to an English-speaking talent pool and excellent international digital and transport connections.”

Maurits Schönfeld, general manager Northern Europe at Uber, said: “Drivers take tremendous pride in the service they provide. Drivers have told Uber that more could be done to reduce costs of insurance, so we did. By adding new benefits to Uber Pro, including insurance options from Inshur and free training courses from LOI, we help drivers achieve their goals on and off the road.”