Getaround Launches AI Based TrustScore v2.0 to Enhance Profitability and Carsharing Marketplace Safety

Getaround (NYSE: GETR) (“Getaround” or “the Company”), the world's first connected carsharing marketplace, today announced Getaround TrustScore v2.0, a proprietary next-generation artificial intelligence (AI) model to improve the safety and economics of its carsharing marketplace. Preliminary results indicate a cost savings of up to 50% of claims and insurance expense — one of the Company’s largest cost centers.

Getaround TrustScore v2.0 combines machine learning with over a decade of data from trips taken on its platform to provide optimized pricing and security deposits for each carsharing trip. With Getaround TrustScore, the Company is able to more accurately price risk on trips, provide upfront transparency for what guests should expect to pay while reducing insurance costs. Getaround TrustScore anticipates that insurance and claims costs will be reduced by up to 50% using the next-generation AI system.

“We are thrilled to roll out the latest version of our Getaround TrustScore after several months of testing our new AI model — to create safer and more desirable carsharing experiences that elevate carsharing from traditional rental models and car ownership,” said Sam Zaid, CEO and Founder of Getaround. “Getaround TrustScore v2.0 enables us to further improve guest and host satisfaction, while concurrently helping to drive our bottom line with expected insurance and claim costs reductions of up to 50%. This strategic, next-generation AI model reduces costs associated with offering carsharing and unlocks increased earnings potential for our hosts and improved availability of vehicle options for guests. With TrustScore 2.0 and the recent HyreCar acquisition, Getaround continues to make smart, strategic investments to drive our path to profitability and long-term carsharing category leadership.”

Getaround recently closed on the acquisition of substantially all of the assets of HyreCar, a premier gig carsharing marketplace.

“Getaround has an image of being the pioneer in carsharing and stands out as a tech savvy company who supports their hosts. I put my first car on the platform 10 years ago and have been aggressively growing my fleet ever since,” said San Francisco-based host, Alfonso Acevedo. “By implementing the new TrustScore, Getaround is working to reduce costs, potential car damage, and overall, prevent headaches for its hosts. I’m looking forward to continuing to work with Getaround as they advance their trust and safety offerings.”