Roamly has booked more than $40 million in insurance premiums over the last 12 months. The milestone follows a year in which Roamly brought its new Pro and Personal products out of beta and saw sales accelerate by more than 222% in booked premiums for its new RV product suite.
The Roamly Pro product includes commercial RV insurance for businesses. Roamly’s Personal product includes RV insurance for individual RV owners and those wanting to list and rent their RV in the marketplace economy.
“We are delighted to have crossed this major milestone,” said Aaron Ammar, Roamly’s chief insurance officer. “The demand we have seen play out over this past year tells a story we have heard time and time again — that customers want easy-to-access coverage and protection for travel.”
Roamly has seen annual growth at 295% over the last six years.
Ammar estimated 2022 RV purchase growth could generate more than $10 billion in RV loans, with each vehicle requiring insurance coverage.
The company stated it expects its growth trajectory to continue accelerating as the pandemic wanes and travelers book trips again, albeit with a strong desire to protect their trips against the unexpected.
“I am incredibly proud of the global team at Roamly and what we are able to provide to businesses and consumers through our technology and product suite,” Roamly CEO Jeff Cavins said. “In the last year, our platform has delivered amazing service to our customers. It has exceeded our expectations.”
