Getaround and TransUnion to Bring TruVision Credit Insurance Auto Score to Carsharing Marketplace

Getaround (NYSE: GETR), the world's first connected carsharing marketplace, today announced a new innovative alliance with TransUnion (NYSE: TRU), a global information and insights company, to integrate TransUnion’s TruVision Traditional Auto Insurance Score for better risk assessment to both reward good drivers and improve the economics of the Getaround marketplace.

The innovation is a significant enhancement to the recently announced Getaround TrustScore, a proprietary, next-generation artificial intelligence (AI) model. TruVision Traditional Auto Insurance Score data enables TrustScore to make more precise predictions of guest driving behavior, thus helping Getaround increase the proportion of highly-rated drivers in its marketplace.

Once integrated and optimized, Getaround will be able to provide discounts and other incentives to guests who have high TrustScores. With this new feature in the TrustScore model, Getaround amplifies all existing benefits of Getaround TrustScore to guests and hosts, providing additional information to inform pricing for a carsharing trip on the Getaround platform, while also reducing the risk of accidents and insurance claims.

“Getaround is thrilled to work with TransUnion and bring its industry-leading insuretech data technology and services to the Getaround marketplace,” said Sam Zaid, CEO and Founder of Getaround. “The relationship with TransUnion will fortify Getaround TrustScore and create a safer, efficient and more reliable marketplace experience. This will benefit hosts seeking to leverage Getaround as a means to unlock additional sources of income by listing their cars on our platform, and prospective guests looking for a terrific alternative to legacy car rental providers.”

With Getaround TrustScore, the Company anticipates insurance and claims costs may be reduced by up to 50% using the next-generation AI system.

“TransUnion is proud to provide its TruVision Traditional Auto Insurance Score to Getaround,” says Mark McElroy, executive vice president and head of TransUnion’s insurance business. “This alliance is a textbook example of how TransUnion makes trust possible in the marketplace, enabling great experiences and personal empowerment for consumers.”

Booking a car may seem stressful, but it doesn’t have to be. Getaround and its patented Connect technology provide 24/7 access to vehicles you can rent from other car owners conveniently located around the corner from your current location. Connect enables users to unlock the car via the Getaround app without having to wait in line or arrange an in-person key exchange. Individuals can instantly book the vehicle for any span of time, from one hour to weeks, perfect for local trips including going to the grocery store, attending a meeting, or longer getaways.