Product Update: Getaround TrustScore
Our new AI model is intended to improve the safety of our carsharing marketplace while reducing insurance and claims costs by up to 50%.
We’re always striving to enhance the carsharing experience for our valued hosts and loyal guests. With this in mind, we recently introduced and have been monitoring an initiative designed to promote safety in our community: Getaround TrustScore.
Getaround TrustScore combines machine learning with our extraordinarily rich trip data and decades of experience assessing trip risk, resulting in a dynamic pricing calculation for each trip. This real-time calculation incorporates a series of vehicle and trip variables, providing greater transparency and building trust on both ends of the carsharing transaction.
What does this mean for hosts?
The Getaround TrustScore more accurately assesses the risk of each trip, allowing us to price each trip according to the modeled risk. This will ultimately result in higher quality trips, greater protection for cars on our platform and improved safety for the entire Getaround community.
As the marketplace adjusts and the accuracy of Getaround TrustScore is refined, hosts should see fewer damage and reduced claims costs. We’re still making adjustments to the model, but early indications point to a significant reduction in insurance and claims-related costs, with an expectation of an up to 50% in reduction using TrustScore.
“Getaround has an image of being the pioneer in carsharing and stands out as a tech savvy company who supports their hosts. I put my first car on the platform 10 years ago and have been aggressively growing my fleet ever since,” says San Francisco-based host Alfonso Acevedo. “By implementing the TrustScore, Getaround is working to reduce costs, potential car damage, and overall, prevent headaches for its hosts. I’m looking forward to continuing to work with Getaround as they advance their trust and safety offerings.”
We appreciate all our hosts for being part of the Getaround community, and we’ll be closely tracking and iterating our TrustScore AI model to best reflect the trip cost factors. We want to hear how Getaround TrustScore has impacted your business, as host feedback is crucial to our continued effort to improve the marketplace experience for all. As always, you can contact us directly through the host app.
How will Getaround TrustScore affect the guest experience?
Getaround TrustScore is factored into all trips which means that for some trips, security deposits and fees may fluctuate.
There are a number of different trip characteristics impacting the security deposits and fees, including trip start time, when a guest books the trip, vehicle weight, car features, and others.
Deposit amounts (typically refunded within seven days of trip completion, minus any unpaid amounts applicable to a trip) are determined by Getaround TrustScore. The model behind Getaround TrustScore is constantly learning and being upgraded to reflect relevant factors.
Our mission, as always, is to empower people to safely carshare everywhere. We appreciate your feedback as we aim to make Getaround the safest and most advanced carsharing marketplace for guests around the world.
Click here to learn more about our other trust and safety measures.