1. Assurant partners with Evident for insurance verification solutions. 2. New system enhances risk management for equipment rentals. 3. Improves customer safety and creates revenue opportunities. 4. Automated coverage verification reduces compliance risks. 5. Partnership expands Assurant's services in commercial sectors.
The partnership with Evident enhances Assurant's offerings, potentially increasing revenues. Historical partnerships have often led to positive stock price movements due to enhanced service portfolios.
The partnership represents a strategic move that could significantly impact AIZ's business model and market presence.
This partnership may lead to increased revenue streams and market share over time. Similar collaborations in the past have strengthened companies’ market positions long-term.
Assurant, Inc. (NYSE:AIZ), a premier global protection company that safeguards and services connected devices, homes and automobiles in partnership with the world's leading brands, today announced a strategic partnership with Evident, the leading provider of AI-powered rental insurance verification solutions. Together, these companies are introducing the commercial equipment rental industry's first end-to-end risk management solution, combining world-class automation with proven protection.
This joint offering enables rental companies and dealers to instantly verify insurance coverage, flag non-compliant policies before equipment leaves the yard, and seamlessly enroll uninsured or underinsured renters in Assurant-backed protection programs.
"We're proud to team up with Evident to offer rental companies and their customers a smarter, streamlined path to risk protection, while unlocking new revenue opportunities for dealers," said Mike Medeiros, vice president of commercial equipment at Assurant. "Together, we're setting a new benchmark for best-in-class equipment rental risk management."
"This is more than a partnership – it's two category leaders coming together to solve the industry's biggest risk exposure in a smarter, more profitable way," said Justin Leslie, head of sales at Evident.
A Complete Solution for Rental Risk
Industries like construction, forestry/logging, and agriculture face significant exposure when equipment leaves the lot without verified insurance coverage. This partnership delivers a streamlined workflow that includes:
Partnership That Protects Customers and Drives Profitability
When renters lack valid insurance, LDW coverage can be offered instantly, enhancing customer protection while generating additional revenue for dealers and manufacturers. The integrated workflow reduces friction for staff and delivers a faster, more secure rental experience.
Assurant brings more 35 years of experience supporting the industries that keep our world turning, with a suite of protection products tailored for heavy equipment, trucks, and commercial vehicles. Assurant's services include extended service contracts, physical damage insurance, guaranteed asset protection, lessor's liability, and more.
"As the leading insurance tracking provider for both commercial and consumer portfolios, this partnership expands our suite of tracking solutions to span leased, financed, and rental equipment," added Medeiros. "It also enables us to deliver niche protection products designed for B2B partnerships."
Evident's automated verification platform ensures that LDW protection offerings are deployed intelligently when renters lack coverage, policies are expired, or equipment is especially high-value or high-risk.
"This is about more than efficiency," added Leslie. "It's about delivering confidence and coverage where it matters most."
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About Assurant
Assurant, Inc. (NYSE:AIZ) is a premier global protection company that partners with the world's leading brands to safeguard and service connected devices, homes, and automobiles. As a Fortune 500 company operating in 21 countries, Assurant leverages data-driven technology solutions to provide exceptional customer experiences. Learn more at assurant.com.
About Evident
Evident gives Risk and Operations leaders the tools they need to automate third-party insurance verification, reduce exposure, and ensure compliance across their rental customer networks. With fast verification, intelligent workflows, and the industry's largest business credentialing network, Evident powers a faster, more confident way to manage risk. Learn more at www.evidentid.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250909000351/en/
Media Contacts:
Assurant Media Contact:
David Biss
Communications Manager
david.biss@assurant.com
Evident Media Contact:
John Rote
CMO
john.rote@evidentid.com