Allianz General partners with TREVO to launch car-sharing insurance

This is a first-of-its-kind product in Malaysia tailored for TREVO Hosts.

Allianz General Insurance Company (Malaysia) Berhad (Allianz General) and TREVO Malaysia have collaborated to launch TREVO Shield, the first insurance plan in Malaysia specially designed to safeguard private car owners participating in peer-to-peer (P2P) car-sharing for extra income generation.

TREVO is a peer-to-peer car-sharing marketplace where Guests can rent cars for their various needs from a community of car-owners who want to rent out their vehicles for extra income called Hosts.

The new product was launched following feedback from TREVO Hosts asking for more substantial coverage, relief and benefits, and to help both Hosts and TREVO scale sustainably.

Thus TREVO developed TREVO Shield, a protection solution that pivots on the core Allianz General-underwritten P2P car-sharing coverage, notably with third-party liability insurance from Allianz General, allowing for TREVO Hosts to be better protected.

TREVO Shield offers three plans - Shield 60, Shield 65 and Shield 75. With TREVO Shield, TREVO Hosts receive protection against Third Party Liability should Guests cause injury or damage to third parties while driving the Host’s car; with the additional options from TREVO of No Claims Discount (NCD) Relief; coverage for damage to the body, paint and bumper of the Host’s car; protection against losses from fire and theft; and towing and roadside assistance, amongst other benefits. Meanwhile, TREVO Shield covers Guests who opt for Super Collision Damage Waiver (SCDW) protection, which limits a Guest’s liability for damage repairs to 10% in case of accidents.

According to Allianz Malaysia Berhad CEO, Sean Wang, as insurers their role in providing protection solutions evolves with the changing needs of their customers.

“Collaborations like our partnership with TREVO Malaysia works best when it is with like-minded partners that share a common goal - putting the customer first. So, we are thrilled to embark on the next chapter of our partnership with TREVO Malaysia and to deliver an innovative product like TREVO Shield, which provides TREVO Hosts and Guests with meaningful protection that aligns with their needs and offers tangible value for an overall smoother car sharing experience,” Wang said.

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