Partnership delivers insurance verification service for equipment rental

Global insurance company Assurant is partnering with Evident, which provides AI-powered rental insurance verification, to offer the equipment rental industry an “end-to-end risk management solution”.

The new product will allow rental companies and dealers to quickly verify insurance coverage, highlight non-compliant insurance policies before equipment leaves the depot, and provide uninsured or underinsured customers with Assurant-backed protection.

The companies said the construction sector faces “significant exposure when equipment leaves the lot without verified insurance coverage”. The partnership said the new offer will provide:

The new insurance package is dedicated to equipment rental. (Image: Adobe Stock)

• Automated insurance verification
• Real-time flags for non-compliant or expired Certificates of Insurance
• Instant eligibility for Loss Damage Waiver (LDW) coverage via Assurant
• A simplified opt-in process at point-of-rental

Mike Medeiros, vice president of commercial equipment at Assurant, said; “We’re proud to team up with Evident to offer rental companies and their customers a smarter, streamlined path to risk protection, while unlocking new revenue opportunities for dealers.”

He added that the partnership “expands our suite of tracking solutions to span leased, financed, and rental equipment. It also enables us to deliver niche protection products designed for B2B partnerships.”

Justin Leslie, head of sales at Evident, said it was more than a partnership; “it’s two category leaders coming together to solve the industry’s biggest risk exposure in a smarter, more profitable way.”