SANTA MONICA, Calif.–(BUSINESS WIRE)–Autonomy™, the nation’s largest electric vehicle subscription company, today introduced an all-digital monthly auto insurance product in the Autonomy subscription package, in partnership with Liberty Mutual Insurance, the sixth largest property and casualty insurer in the world.
Auto insurance coverage is now available as part of Autonomy’s auto subscription package, which already includes taxes, title, registration, routine maintenance and roadside assistance. Qualified subscribers will now receive Autonomy’s subscription with its fully integrated insurance offering.
Unlike most insurance policies which are offered on a semi-annual or annual basis, Autonomy’s integrated insurance product is offered to policyholders on a flexible monthly basis.
“For the first time, consumers can pay for car insurance on a monthly basis through an Autonomy subscription, all on their smartphone,” said Scott Painter, Founder and CEO of Autonomy. “Car subscriptions represent ease and flexibility, and insurance was the missing piece of our all-in-one offering. Liberty Mutual has been an excellent partner in helping us market our new insurance product. Integrating car insurance into our monthly subscription package solves another consumer problem in the mobility experience and reinforces our core consumer value propositions. »
Here’s how it works:
Consumers download the Autonomy app (Apple App Store or Google Play Store)
Consumers go through a 10-15 minute qualification process to determine vehicle and insurance eligibility.
Once consumers qualify, they are introduced to Autonomy’s integrated insurance offering.
When the subscription is activated, the subscriber now pays a single monthly payment including insurance, taxes, title, registration, routine maintenance and roadside assistance.
After a subscription period of at least 3 months, the subscriber benefits from a simple monthly plan and can terminate the subscription at any time subject to 28 days’ notice.
“Liberty Mutual is at the forefront of the evolution of subscription auto insurance, offering innovative programs to meet the needs of our partners’ business models. We are thrilled to partner with Autonomy to create easy and seamless access to electric vehicles,” said Gita Gupta, Senior Director of Strategic Partnerships at Liberty Mutual.
The launch of Autonomy’s insurance offering follows the announcement of Autonomy’s partnership with DigiSure to provide first-of-its-kind integrated insurance for automotive subscriptions. The platform partnership with DigiSure provides Autonomy with the ability to digitally onboard, assess and qualify a subscriber for automatic monthly coverage.
Autonomy is expanding geographically and adding new makes and models of electric vehicles to its subscription product line. Last week, Autonomy ordered 23,000 electric vehicles from 17 different global automakers, with the order totaling more than $1.2 billion. Autonomy will leverage its recently announced national partnership with AutoNation, Inc. (NYSE: AN), the largest retailer in the United States for the acquisition and admission of the majority of these vehicles. AutoNation will provide vehicle preparation, delivery and subscriber activation services, as well as maintenance, repair and refurbishment services for Autonomy’s growing fleet of electric vehicles.
Today, Autonomy offers the Tesla Model 3 and Tesla Model Y and will soon add the full Tesla lineup. Autonomy’s subscription model offers the cheapest, fastest and easiest way to get an electric vehicle, and it doesn’t require the long-term debt or commitment that comes with buying or lease. Autonomy subscribers can pay their subscription in full with their credit card or via their bank account. They have the option of monthly subscription after a minimum holding period of three months. Consumers can subscribe to an electric vehicle completely in-app (Google Play Store or Apple App Store) and customize their monthly payment to suit their budget. Plus, Autonomy vehicles can be delivered or picked up in weeks, compared to the six to nine month wait for a loan or lease.
Autonomy is a technology company whose mission is to make access to mobility easy and affordable through car subscriptions. The company was founded by automotive retail, auto finance and auto insurance disruptors Scott Painter and Georg Bauer, who founded Fair, the first-ever, pioneering used car subscription offer. of the Car-as-a-Service (CaaS) category. Building on this experience, Autonomy has created a turnkey vehicle subscription platform for consumers and the automotive industry that allows vehicle subscriptions to cost-effectively scale and become a mainstream alternative to purchase of traditional cars. Autonomy innovates through technology, finance and insurance to power automotive subscriptions for the battery, electric vehicle and zero-emission vehicle sectors. Autonomy relies on partnerships with automakers and physical car dealerships to deliver consumer and industry benefits. Self-reliance represents the absence of long-term debt, the absence of long-term commitments, and even the absence of fossil fuels. It means new choices and more control over your financial well-being. Autonomy is based in Santa Monica, California.
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Contacts PR Autonomy:
Head of Investor Relations and Corporate Communication
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