Roadzen subsidiary partners with UK car retailer to offer GAP insurance

NEW YORK - Roadzen Inc. (NASDAQ:RDZN), currently trading at $0.95 per share and showing significant growth potential according to InvestingPro analysts, announced Tuesday that its UK subsidiary, Global Insurance Management Limited (GIM), has partnered with one of the UK’s largest independent retailers of nearly new cars and vans to provide Guaranteed Asset Protection (GAP) insurance.

The partnership will enable the retailer to offer Return to Invoice (RTI) GAP insurance to its more than 60,000 annual vehicle buyers as part of the purchase process, according to a company press release.

Roadzen’s technology will power a fully integrated insurance solution embedded into the retailer’s digital and in-store sales processes. GIM will handle customer engagement, activation, and policy servicing.

The implementation leverages Roadzen’s Global Distribution Network platform, which facilitates real-time pricing, policy issuance, payment collection, and claims processing through a single digital interface.

"This partnership reflects our commitment to redefining how insurance is delivered - not as a separate product, but as an embedded, value-added experience for customers," said Rohan Malhotra, founder and CEO of Roadzen.

The GAP insurance offering aims to address consumer protection needs in the used car market while creating recurring revenue opportunities for Roadzen’s platform.

Roadzen Inc., headquartered in Burlingame, California, specializes in AI technology for auto insurance, with operations in the U.S., UK, and India. The company went public on the Nasdaq in 2023. While currently trading below its 52-week high of $2.99, InvestingPro analysis suggests the stock may be undervalued, with analysts setting price targets between $4 and $5 per share.

In other recent news, Roadzen Inc. has been making headlines with several significant developments. The company reported that its DrivebuddyAI platform has received a patent in India for a Real-Time Driver Drowsiness Detection Algorithm, which analyzes eye and facial cues to detect fatigue and issue alerts. This innovation aligns with upcoming road safety regulations in India, potentially reducing accidents and insurance costs for fleet operators. Roadzen also announced a strategic partnership through its UK subsidiary with a telematics provider, aiming to introduce a vehicle protection solution in the UK market, which is expected to generate substantial annual revenues.

Additionally, Roadzen is involved in a legal dispute with Meteora Capital Partners, accusing the firm of breaching a contract related to a Forward Purchase Agreement. The lawsuit claims $19.5 million in damages, highlighting issues of trust and transparency in capital markets. Meanwhile, Roadzen has partnered with Supergas to implement its DrivebuddyAI platform across Supergas’s truck fleet in India, enhancing driver safety monitoring. These developments underscore Roadzen’s ongoing efforts to expand its technological and market presence in the mobility and insurance sectors.

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