Douglas Ver Mulm, CEO at Stable: $3.7 Million in Funding to Insure Rideshare Drivers

Origin of Stable Insurance: The company was born out of Doug's experience with his own fleet of rideshare vehicles in NYC, addressing the lack of suitable insurance products for rideshare operators.

Data-Driven Insurance: Stable Insurance leverages real-time data from rideshare platforms, telematics, and dash cams to create a more accurate and personalized insurance pricing model.

Unique Coverage Features: They offer benefits such as income replacement, zero-dollar deductibles with dashcam footage, and rewards for loss control investments, addressing specific needs of rideshare drivers.

Market Focus: Initially targeting individual owner-operators, the company is expanding to serve small fleets and other gig economy drivers, such as those using car-sharing and delivery platforms.

Regulatory Navigation: Successfully launching their own product in Illinois, with plans to expand to additional states including Texas, Arizona, Georgia, and Tennessee by the end of the year, and targeting California and Florida in 2023.

Future Vision: Aiming to offer a comprehensive suite of tools for gig economy drivers, including banking, lending, and health and life insurance products, along with enhanced analytics to help users manage their small businesses more effectively.