QUOTE(Mavik @ Aug 7 2017, 09:27 PM)
1) The rental company has to bourne the cost of the day insurance which needs to state how much is in excess or what sort of full coverage. At the end of the day, if you want to make this into a business, you need to have ways and process to ensure that the person renting out the car feels comfortable. The claims process as well as the workshops need to be managed on your end rather than the guy who rents the car. Same goes for AirBnB.
2) This is definitely a must, for car rental companies they are already outfitted with GPS tracking devices for their entire fleet. If you want to deal with something in the local market, search for Katsana which supplies this.
3) A community of respect means a proper and transparent rating system for both parties. Operationally taxing but needs to be done properly.
On top of that the leasing agreement has to be solid and tight which protects both the rentee and the renter.
Thanks Mavik, objective and to the point, I agree with your points and suggestions. Are you a veteran in this industry?
Tuvo is doing this p2p car sharing in the US and the valuation is about a few hundred million USD , so to a certain extent, this is a proven business model. of course , US market is huge and more forward looking and receptive, however, I am seriously thinking of launching this in Malaysia, I think it is a problem worth tackling and industry may just be ripe for disruption.
Need to have a really strong , forward looking insurance partner in this , the start could be really operationally taxing as well about all these claims stuff and queries, but after sometime, operation should be stream lined and automated with the aid of digital tech and process improvement.
There are some invisible revenue channel based on this model as well in phase 2 or phase 3 of this project
end of my brain vomit for today