It Started With HyreCar
In the early days of HyreCar, the company was developing a platform that allowed vehicle owners to rent their cars to people who wanted to drive for rideshare companies.
The business model solved a real problem. Many people wanted to earn income through rideshare driving but did not have access to a qualifying vehicle.
The challenge was insurance.
HyreCar needed an insurance structure capable of supporting a business model the traditional market had not yet learned how to accommodate.
The vehicles were not operating like a conventional commercial fleet. Their exposure changed based on whether they were available, rented, being driven for rideshare, or sitting between transactions.
Dave understood that the insurance product had to reflect those changing exposures.
He helped create the core car-sharing insurance solution that supported HyreCar’s business model and allowed the platform to grow.
Building Insurance Around the Business
The work required a different approach to transportation insurance.
Rather than forcing a new mobility company into a policy designed for a traditional rental operation or fixed commercial fleet, the insurance structure needed to be built around how the platform actually operated.
That meant understanding:
* When a vehicle was available for rent
* When the vehicle was actively rented
* Who was driving the vehicle
* How the vehicle was being used
* Which coverage should respond during each stage
* How premium should be calculated based on changing exposure
The underlying idea was simple:
Insurance should follow the actual risk.
At the time, that required the insurance product and the technology supporting it to evolve together.
Rental activity, vehicle information, driver data, billing, insurance reporting, and coverage documentation all needed to work as part of the same process.
The Role of TeqMobility
That same philosophy helped shape TeqMobility.
TeqMobility was built to help transportation and mobility businesses manage the operational data behind insurance programs, including vehicle activity, rental transactions, exposure reporting, billing, and program administration.
For car-sharing businesses, that technology matters because insurance cannot operate effectively without accurate information about when a vehicle is rented, who is driving it, how it is being used, and what coverage should apply.
TeqMobility helps connect those operational details to the insurance process.
It provides the infrastructure needed to support programs where exposure changes frequently and traditional monthly or annual reporting may not reflect the actual risk.
Together, the insurance product and the technology supporting it create a more complete solution for modern mobility companies.
More Than an Insurance Policy
Creating a workable car-sharing insurance product required far more than obtaining a quote from an insurance carrier.
- Adding and removing vehicles
- Tracking rental activity
- Managing insurance identification cards
- Reporting exposure accurately
- List Item* Calculating premium based on vehicle usage
- Coordinating coverage across different stages of a rental
- Supporting vehicle owners, drivers, platforms, and insurance partners
- Monitoring claims and loss performance
These capabilities helped create a framework for insuring technology-enabled transportation businesses.
They also demonstrated that emerging mobility companies did not necessarily need entirely new insurance principles.
They needed experienced people who understood how to apply those principles to a new business model.
The Next Chapter at Signal Street
Today, Dave brings that experience to Signal Street Insurance Services.
Signal Street represents the next chapter of the work that began with early car-sharing platforms such as HyreCar and continued through the development of technology-driven insurance infrastructure such as TeqMobility.
The technology has changed. Car-sharing businesses have become more sophisticated. Platforms now have access to more detailed rental, vehicle, driver, telematics, and claims data.
The insurance market has also learned important lessons about pricing, loss development, vehicle utilization, fraud, driver behavior, and the risks associated with rapidly growing mobility programs.
But the core challenge remains the same:
Every transportation platform operates differently, and its insurance program should reflect how the business actually works.
At Signal Street, we apply decades of transportation insurance experience to modern car-sharing and mobility companies.
That includes helping clients evaluate:
- On-rent and off-rent exposure
- Auto liability and physical damage coverage
- Driver and vehicle eligibility
- Rental and car-sharing agreements
- Insurance reporting and data integrations
- Claims and loss performance
- Pricing and program sustainability
- Carrier and regulatory requirements
We do not believe innovative transportation companies should be placed into generic insurance programs without consideration for their underlying operations.
The product has to make sense for the business, the insurance carrier, and the people who depend on it.
Experience Built Through Change
HyreCar was an important part of the early car-sharing economy.
It challenged the insurance industry to think differently about how vehicles were owned, accessed, rented, and used to generate income.
Dave Haley helped turn that challenge into a workable insurance product.
TeqMobility helped extend that vision by supporting the technology and data infrastructure modern transportation programs require.
That experience now forms part of the foundation behind Signal Street.
Signal Street may be a new name, but our experience with car-sharing insurance is not new.
We have been helping build solutions for evolving transportation businesses since the industry was still learning how to describe them.
And we are just getting started.
Building a Car-Sharing Insurance Program?
Whether you operate a car-sharing platform, manage a rental fleet, provide vehicles to rideshare drivers, or are developing a new mobility business, your insurance program should be built around your actual operations.
Signal Street works with transportation companies to develop practical insurance solutions supported by industry experience, meaningful data, modern technology, and a clear understanding of how mobility businesses operate.
Contact Signal Street to discuss your car-sharing insurance needs.
