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Cost airbag for evopark

Cost airbag for evopark

An innovative parking solution that exactly fits the target group and promises to become a market success: With this claim the start-up evopark set out on a search for attractive additional services in 2016. With the „cost airbag“ Credit Life developed an insurance against damage during the parking process – gaining over 1,000 contracts after a few months.

In order to digitize car parks as well as the parking and payment process, attractive services are required. With the „cost airbag“ Credit Life provides our partners with a tailor-made insurance solution.

Sven Lackinger Founder and Managing Director of evopark

Features of the Cooperation

  • For evopark we developed the "„cost airbag“. It helps the car park customers in case of unforeseeable events, reimburses the associated financial damage and helps to get home safely at any time.
  • The product is currently implemented in the evopark PLUS tariff; to obtain a benefit, the car park must be connected to the evopark network and the parking process must have taken place using the digital parking card of an evopark partner.
  • In order to optimize the price-performance ratio for „cost airbags“, we developed a new calculation and new GTC.
  • A new, digital process was developed for handling both the signing of the contract and the damages.
  • Already in the first months we reached the mark of 1,000 insurances.
  • The partners of evopark accept the „cost airbag“. The implementations in parking solutions of evopark partners are under discussion.

The task

The mobility market is a highly competitive one. evopark has established itself as the market leader for digital parking off-road in Germany. Numerous car park operators, car manufacturers and mobility providers already use digital solutions from evopark. Among numerous other parking services these companies can provide their customers with an app that displays available parking spaces in participating car parks and navigates the driver there.

 

The core product is a parking card that automatically opens barriers in car parks. Beyond that, evopark offers further digital access solutions as well as innovative products for managing short- and long-term parkers. A protection in case of damage is a useful additional service that evopark partners can offer their end customers. What is needed is a product that can be concluded easily and without media discontinuity.

The solution

In order to meet the demand for a full service Credit Life has developed a product for frequent parkers: The „cost airbag“ helps them to cope with unforeseeable events, compensates for the associated financial loss and helps them to get home safely at all times.

  • The „cost airbag“ is included in the evopark PLUS tariff; with no additional costs for the costumer. A possible expansion of the offer for further customer groups of the evopark partners is under discussion.
  • The insurance pays parking costs up to 40 Euro when caused by delays in local and long-distance passenger traffic or flights.
  • If the vehicle has to stop in the parking area due to a breakdown or an accident, the „cost airbag“ reimburses the parking costs as well as the costs of up to 40 Euro for the onward or home journey or up to 80 Euro for overnight accommodation costs.
  • In case of loss of the evopark card, the costs for the purchase of a new card will be covered for two claims per year.
  • In case of loss or theft of the vehicle key, the „cost airbag“ covers the costs of up to 50 Euro for the use of public transport or a taxi in order to purchase a replacement key, up to 200 Euro for the purchase of a replacement key itself.
  • The „cost airbag“ does not need any costly separate closing processes and is an integral part of the evopark app.

The implementation

The development process highlights the various damage scenarios that can occur between  parking a car and picking it up again. Costs can arise, for example, if the parking time is exceeded, or if the vehicle is damaged or the parking card is lost. Against this background, Credit Life has developed an innovative insurance solution that converts possible cost burdens during parking time as well as regular parking processes into a simple and comprehensible product.

Thanks to a uniform and standardized development process, the „cost airbag“ is implemented very quickly – corresponding to the high start-up speed of evopark. With the help of a constant exchange between the partners, a product is created that optimally fits the requirements of evopark and the parking customers of the evopark partners.

evopark

Since its foundation in 2014, evopark GmbH has established itself as a technology service provider for car park operators, car manufacturers and mobility providers. In addition to infrastructural innovations, evopark offers parking space operators digital solutions for the short- and long-term parking business as well as access to new sales channels. Mobility providers use the innovative parking services for their customer acquisition and retention. The sports car manufacturer Porsche, for example, integrates evopark solutions into the navigation systems of its vehicles. evopark has already received numerous awards for its innovative concept. Since 2018 the company is part of the Scheidt & Bachmann Group and cooperates closely with numerous other system manufacturers.

Contact person

Robert Niestroj

Sales