Axle helps hundreds of rental car companies and dealerships prevent an industry average $82K+ 1 unrecoverable loss each year by instantly verifying insurance prior to rental. Typically, this includes checking that the policy is active, all drivers are listed, and that they have full coverage.
However, we’re often asked:
"Can you confirm if their policy will extend coverage to a rental vehicle?"
Today, we're excited to introduce Rental Coverage Validation AI, a powerful new feature that directly answers this question.
Rental Coverage Validation: The missing puzzle piece
Rental coverage was the last missing puzzle piece in determining whether a renter has sufficient coverage. This information is almost never present within a users policy details or declarations page, making it extremely difficult to verify without calling the carrier today. Axle’s advanced AI engine and proprietary data set can now determine if a policy will transfer coverage, reducing uncertainty for both your staff and your customers and providing a host of benefits to your operations:
Reduce unrecovered losses
Prevent surprise subrogation results by ensuring that only policies that extend coverage to rental vehicles are accepted.
Increase waiver & protection plan adoption
Identifying policies that don’t transfer coverage provides an opportunity to offer a collision damage waiver (CDW) to a customer who needs it. We’ve found that comparing protection plans against a renter’s own policy helps build trust, guiding renters towards choosing more comprehensive protection offerings through customer education.
Enhance the customer experience
As a consumer, understanding if you have the proper coverage is often the most painful parts of renting a vehicle. By removing the ambiguity of whether their policy meets your requirements, you’ll enhance the customer experience and reduce the risk of delays, complications at the rental counter, or surprises when an incident occurs.
Get Started with Rental Coverage Validation AI
We're excited about the impact that Rental Coverage Validation AI will have on our partners. Contact us to learn more about Rental Coverage Validation AI or to get started.
[1] Based on a 100 vehicle fleet with an industry average incident rate, incident size, and recovery rate
