Ejaro, a leading peer-to-peer car rental platform in the Kingdom of Saudi Arabia, is excited to announce its strategic partnership with Tawuniya, the kingdom’s largest insurance company. Tawuniya has led Ejaro’s Pre Series A investment round as well as introducing their revolutionary daily motor insurance product, in line with Saudi Arabia’s Vision 2030 goals of fostering innovation and enhancing economic competitiveness.
Industry sources added that this marks a significant accomplishment in KSA. This strategic partnership follows Ejaro’s outstanding success in the peer-to-peer sector within the region.
“We are thrilled to expand our partnership with Tawuniya to offer this ground-breaking product in the peer-to-peer car rental industry,” stated Mohammed Khashoggi, CEO of Ejaro. “We believe this product will significantly enhance our services and provide an excellent solution for our hosts and guests within the Ejaro platform.”
Mansour Abo Thnain, CEO of Motor Insurance at Tawuniya, expressed his enthusiasm about the collaboration, saying, “This partnership with Ejaro aligns perfectly with Tawuniya’s commitment to innovation and customer-centric solutions. We are excited to join forces with Ejaro to introduce this revolutionary product, which will elevate the rental experience for customers and set a new standard in the Saudi Arabian insurance market.”
During the starting of Q2 2024, Ejaro will offer daily motor insurance policies for its hosts. This departure from traditional yearly policies signifies a transformative shift in the insurance landscape of the car-sharing industry, offering unparalleled flexibility and fairness to Ejaro users.
Industry sources added that with Tawuniya’s strategic partnership, Ejaro users can now enjoy daily insurance coverage for their vehicles during the rental period. This innovative product enables users to access convenient and customized insurance coverage designed to match the duration of their rentals, enhancing the overall flexibility and convenience of the peer-to-peer car rental experience.
Industry sources further affirmed that Ejaro’s daily motor insurance product, in partnership with Tawuniya, utilizes advanced technology to determine insurance costs based on the car’s rental period, users’ driving behavior, and accident history, providing peace of mind to Ejaro hosts. This product showcases the collaborative efforts of Ejaro and Tawuniya to enhance the user experience and seamlessly meet the evolving needs of their customers.
With this landmark partnership, Ejaro remains at the forefront of the peer-to-peer car rental industry in the Kingdom of Saudi Arabia. Their commitment to innovative services continues to exceed customer expectations and enhance the overall rental experience.
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