Insurance company cooperation with Uberx can address the information gap

One of the arguments I have read on-line from the insurance people is the insurance company cannot tell whether someone is driving for Uberx (and the Uberx "supplemental" insurance is in effect) when an accident occurs. Currently, that is true. It is however, a technology and cultural problem. The data to figure this out exists.

Uberx knows to the second when its insurance is in effect. That should be good enough for the vast majority of accident situations.

As the number of Uberx drivers increases, there is a real business opportunity for the first insurance company to integrate its systems with Uberx (and other P2P dispatchers) and provide a hybrid insurance product.

Uberx drivers have an enormous incentive to drive safely. We know that when we have an at fault accident, we are out unless there are enormous extenuating circumstances.

Hopefully soon, Uber and the other P2P companies will have enough data to share that will allow traditional insurance to build a risk model and figure out how to price a hybrid product.