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Miami Herald
05-06-2025
- Automotive
- Miami Herald
New to The Street's Client Roadzen (NASDAQ: RDZN) Partners with Vodafone Automotive
NEW YORK CITY, NY / ACCESS Newswire / June 5, 2025 / New to The Street, a leading financial news program featuring innovative companies and industry leaders, is proud to announce that in an article showcased by CarDealer Magazine issued yesterday, its client, Roadzen Inc's (NASDAQ:RDZN) Global Insurance Management in the UK has partnered with Vodafone Automotive to deliver an integrated, technology-led smarter approach to vehicle protection. In a press release issued by Roadzen on May 6, 2025, the Company announced that it had partnered with one of the world's largest telematics providers to launch connected vehicle protection in the UK without naming the entity. Today we know that the partner is Vodafone Automotive, an advanced vehicle telematics and security solutions provider operating in over 50 countries, already being used by more than 35 major automotive manufacturers, including GM, Mercedes-Benz, Porsche, Renault, Toyota, Volvo, and Volkswagen as well as a number of major fleet operators. Together, the two companies have developed an integrated solution that pairs Vodafone Automotive's state-of-the-art Vehicle Defence System with a best-in-class Guaranteed Asset Protection (GAP) Insurance product. The partnership directly addresses a growing challenge in the UK, where rising vehicle theft is driving insurance premiums higher. The UK motor insurance market exceeds £17 billion annually, presenting a substantial opportunity for innovative, tech-led solutions. The initial rollout will focus on the UK, with phased expansion into European markets planned. With dealership clients already onboarding, Roadzen believes that the partnership is poised to generate seven-figure revenues annually. CarDealer Magazine article can be viewed here: Roadzen is a global leader in AI-driven solutions at the intersection of insurance and mobility. Over the last year, Roadzen has introduced several new technological innovations, including MixtapeAI, an AI platform leveraging large language models (LLMs) to revolutionize customer interactions, underwriting, and claims workflows. Additionally, its drivebuddyAI platform became the first ADAS system in India to meet AIS 184 Certification standards for commercial vehicles. About New to The StreetWhere Business Tells Its Story™ Founded in 2009, New to The Street is a leading multi-platform media brand that produces and distributes biographical interviews featuring innovators, disruptors, and industry leaders across public and private markets. Airing twice weekly as sponsored programming on Bloomberg Television and Fox Business Network, the series reaches more than 245 million households globally, including a recent expansion into the Middle East that added 26 million new homes to its broadcast footprint. With over 2.53 million YouTube subscribers, New to The Street operates the largest digital video platform in financial television, driving powerful engagement across social media, streaming, and mobile audiences. The company also integrates high-impact out-of-home advertising, including billboards in Times Square and throughout New York's Financial District, delivering unmatched visibility for featured brands. By combining television, digital, earned media, and outdoor into one seamless distribution model, New to The Street offers a unique, scalable platform for companies looking to share their story, grow their brand, and reach investors at scale. About Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. Roadzen's pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen's mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 320 employees across its global offices in the U.S., U.K. and India. To learn more, please visit For Media inquiries' Monica@ SOURCE: New To The Street
Indianapolis Star
05-06-2025
- Automotive
- Indianapolis Star
New to The Street's Client Roadzen (NASDAQ: RDZN) Partners with Vodafone Automotive
NEW YORK CITY, NY / ACCESS Newswire New to The Street, a leading financial news program featuring innovative companies and industry leaders, is proud to announce that in an article showcased by CarDealer Magazine issued yesterday, its client, Roadzen Inc's (NASDAQ:RDZN) Global Insurance Management in the UK has partnered with Vodafone Automotive to deliver an integrated, technology-led smarter approach to vehicle protection. In a press release issued by Roadzen on May 6, 2025, the Company announced that it had partnered with one of the world's largest telematics providers to launch connected vehicle protection in the UK without naming the entity. Today we know that the partner is Vodafone Automotive, an advanced vehicle telematics and security solutions provider operating in over 50 countries, already being used by more than 35 major automotive manufacturers, including GM, Mercedes-Benz, Porsche, Renault, Toyota, Volvo, and Volkswagen as well as a number of major fleet operators. Together, the two companies have developed an integrated solution that pairs Vodafone Automotive's state-of-the-art Vehicle Defence System with a best-in-class Guaranteed Asset Protection (GAP) Insurance product. The partnership directly addresses a growing challenge in the UK, where rising vehicle theft is driving insurance premiums higher. The UK motor insurance market exceeds £17 billion annually, presenting a substantial opportunity for innovative, tech-led solutions. The initial rollout will focus on the UK, with phased expansion into European markets planned. With dealership clients already onboarding, Roadzen believes that the partnership is poised to generate seven-figure revenues annually. CarDealer Magazine article can be viewed here: Roadzen is a global leader in AI-driven solutions at the intersection of insurance and mobility. Over the last year, Roadzen has introduced several new technological innovations, including MixtapeAI, an AI platform leveraging large language models (LLMs) to revolutionize customer interactions, underwriting, and claims workflows. Additionally, its drivebuddyAI platform became the first ADAS system in India to meet AIS 184 Certification standards for commercial vehicles. About New to The Street Where Business Tells Its Story™ Founded in 2009, New to The Street is a leading multi-platform media brand that produces and distributes biographical interviews featuring innovators, disruptors, and industry leaders across public and private markets. Airing twice weekly as sponsored programming on Bloomberg Television and Fox Business Network, the series reaches more than 245 million households globally, including a recent expansion into the Middle East that added 26 million new homes to its broadcast footprint. With over 2.53 million YouTube subscribers, New to The Street operates the largest digital video platform in financial television, driving powerful engagement across social media, streaming, and mobile audiences. The company also integrates high-impact out-of-home advertising, including billboards in Times Square and throughout New York's Financial District, delivering unmatched visibility for featured brands. By combining television, digital, earned media, and outdoor into one seamless distribution model, New to The Street offers a unique, scalable platform for companies looking to share their story, grow their brand, and reach investors at scale. About Roadzen Inc. Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. Roadzen's pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen's mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 320 employees across its global offices in the U.S., U.K. and India. To learn more, please visit For Media inquiries' Monica@ View the original press release on ACCESS Newswire
Associated Press
05-06-2025
- Automotive
- Associated Press
New to The Street's Client Roadzen (NASDAQ: RDZN) Partners with Vodafone Automotive
NEW YORK CITY, NY / ACCESS Newswire / June 5, 2025 / New to The Street, a leading financial news program featuring innovative companies and industry leaders, is proud to announce that in an article showcased by CarDealer Magazine issued yesterday, its client, Roadzen Inc's (NASDAQ:RDZN) Global Insurance Management in the UK has partnered with Vodafone Automotive to deliver an integrated, technology-led smarter approach to vehicle protection. In a press release issued by Roadzen on May 6, 2025, the Company announced that it had partnered with one of the world's largest telematics providers to launch connected vehicle protection in the UK without naming the entity. Today we know that the partner is Vodafone Automotive, an advanced vehicle telematics and security solutions provider operating in over 50 countries, already being used by more than 35 major automotive manufacturers, including GM, Mercedes-Benz, Porsche, Renault, Toyota, Volvo, and Volkswagen as well as a number of major fleet operators. Together, the two companies have developed an integrated solution that pairs Vodafone Automotive's state-of-the-art Vehicle Defence System with a best-in-class Guaranteed Asset Protection (GAP) Insurance product. The partnership directly addresses a growing challenge in the UK, where rising vehicle theft is driving insurance premiums higher. The UK motor insurance market exceeds £17 billion annually, presenting a substantial opportunity for innovative, tech-led solutions. The initial rollout will focus on the UK, with phased expansion into European markets planned. With dealership clients already onboarding, Roadzen believes that the partnership is poised to generate seven-figure revenues annually. CarDealer Magazine article can be viewed here: Roadzen is a global leader in AI-driven solutions at the intersection of insurance and mobility. Over the last year, Roadzen has introduced several new technological innovations, including MixtapeAI, an AI platform leveraging large language models (LLMs) to revolutionize customer interactions, underwriting, and claims workflows. Additionally, its drivebuddyAI platform became the first ADAS system in India to meet AIS 184 Certification standards for commercial vehicles. About New to The Street Where Business Tells Its Story™ Founded in 2009, New to The Street is a leading multi-platform media brand that produces and distributes biographical interviews featuring innovators, disruptors, and industry leaders across public and private markets. Airing twice weekly as sponsored programming on Bloomberg Television and Fox Business Network, the series reaches more than 245 million households globally, including a recent expansion into the Middle East that added 26 million new homes to its broadcast footprint. With over 2.53 million YouTube subscribers, New to The Street operates the largest digital video platform in financial television, driving powerful engagement across social media, streaming, and mobile audiences. The company also integrates high-impact out-of-home advertising, including billboards in Times Square and throughout New York's Financial District, delivering unmatched visibility for featured brands. By combining television, digital, earned media, and outdoor into one seamless distribution model, New to The Street offers a unique, scalable platform for companies looking to share their story, grow their brand, and reach investors at scale. About Roadzen Inc. Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. Roadzen's pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen's mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 320 employees across its global offices in the U.S., U.K. and India. To learn more, please visit For Media inquiries' [email protected] SOURCE: New To The Street press release
Miami Herald
16-05-2025
- Automotive
- Miami Herald
Feds Drop $60 Million Penalty Against This Automaker
The U.S. Consumer Financial Protection Bureau (CFPB) has canceled a 2023 settlement with the financing arm of Toyota that had ordered the automaker's division to pay a $12 million penalty to the federal government and $48 million to car buyers allegedly targeted by illegal lending practices since 2016. The allegations revolve around reports of Toyota illegally steering thousands of customers into expensive and unnecessary product bundles that many consumers were misled into believing were mandatory. According to the CFPB, these product bundles, which added $700 to $2,500 to each loan, included Credit Life and Accidental Health (CLAH) coverage paying a loan's remaining balance if the borrower passes away or becomes disabled, and Guaranteed Asset Protection (GAP), which waives some of the customer's loan balance if their vehicle is totaled, but they still owe on the loan even with car insurance. During their investigation, the CFPB determined that Toyota Motor Credit made it unreasonably difficult for consumers to cancel the unwanted add-ons after customer complaints claiming the automaker forced the product bundles without their consent. Additionally, the CFPB found that Toyota's financing arm failed "to ensure consumers received refunds of unearned GAP and CLAH premiums when they paid off their loans early or ended lease agreements early" and didn't "provide accurate refunds to consumers who canceled their vehicle service agreements as a result of flawed system logic." Lastly, the CFPB determined that Toyota's finance division hurt victims' credit by falsely reporting customer accounts as delinquent, even though consumers had already returned their vehicles, and failing to correct the information submitted to credit agencies promptly. "Toyota's lending arm illegally withheld refunds, made borrowers run through obstacle courses to cancel unwanted services, and tarnished their credit reports," former CFPB director Rohit Chopra said, according to Road & Track. The decision to drop the penalty may have something to do with the current administration's recent actions. When asked whether he intended to "totally eliminate" the CFPB on February 10, President Trump said "that was a very important thing to get rid of," according to Reuters. The current acting director of the CFPB, Russ Vought, who was appointed to the bureau by President Trump on February 7, sent an email to CFPB staff on February 8 directing employees not to issue any proposed or formal rules, stop pending investigations, not open new investigations, halt stakeholder engagements, and refrain from issuing public communications, according to CBS. Vought's email occurred after Elon Musk's Department of Government Efficiency (DOGE) thoroughly reviewed the CFPB. In late February, lawyers for President Trump's administration denied that the White House intends to dismantle the CFPB. However, on April 15, the Trump administration sent 1,500 of the CFPB's 1700 total staff members layoff notices before a federal judge temporarily blocked the move on April 18, which remains in effect. The Wall Street Journal reports that Vought has served as Elon Musk's lower-profile DOGE partner. Vincent Bray, Senior Manager of Corporate Communications at Toyota Financial Services, told Autoblog in response to the cancelled settlement: "Toyota Motor Credit Corporation (TMCC) appreciates the CFPB's action, and we look forward to maintaining a good working relationship with the bureau. We remain committed to doing the right things for our customers and following applicable federal and state laws in our sales, customer service, and administrative practices. We will continue to enhance our practices to deliver the best possible customer experiences." The CFPB's decision to reverse its 2023 settlement order against Toyota's financing arm reflects how President Trump's policies are affecting the automotive industry and its consumers beyond the ripple effects of tariffs. Additionally, the CFPB's cancellation of the settlement, which occurred on Monday, comes at a time when much of the bureau's operations are in flux, raising more questions than answers regarding its reversal. The CFPB did not provide a reason for the settlement's cancellation. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
24-03-2025
- Automotive
- Yahoo
Retailers slow to reintroduce GAP insurance despite rising consumer demand
Despite Guaranteed Asset Protection (GAP) Insurance being reinstated as a key customer proposition for retailers, Intelligent Motoring estimates that 90% of dealers are not actively promoting it. The Financial Conduct Authority (FCA) has previously said its scrutiny has improved transparency and value for consumers, driving renewed interest in GAP Insurance. According to Intelligent Motoring, consumer confidence in the product is growing, benefiting both its retail partners and its direct-to-consumer platform, MotorEasy. Duncan McClure Fisher, CEO of Intelligent Motoring, highlighted the importance of GAP Insurance as vehicle values stabilise post-pandemic and electric vehicle residuals decline. 'Claim payouts are regularly exceeding £20,000 to £30,000, demonstrating the critical protection GAP Insurance provides,' he said. 'Many retailers appear hesitant to sell the product, with only around one in ten advertising it to customers. This may be due to increased net rates and capped retail premiums, but flexible solutions exist to ensure fair value products that protect consumers, foster customer loyalty, and generate revenue.' The FCA's review reinforced the need for transparency, compliance, and customer-focused sales strategies. During the temporary suspension of sales, some retailers adapted by offering alternative value-added products such as Cosmetic, Tyre, and Battery Insurance or Insured Breakdown Recovery. Now, as GAP Insurance sales resume, retailers have an opportunity to reintegrate the product into their offerings. McClure Fisher noted that some consumers had delayed purchasing a vehicle until GAP Insurance became available again, indicating strong demand. 'Retailers hesitant to reintroduce GAP Insurance should seize this opportunity,' he urged. 'Careful pricing, effective compliance measures, and seamless integration into the sales process will enable them to confidently offer a GAP Insurance programme that benefits both consumers and their business.' GAP insurance covers the difference between a car's market value at the time of loss and the amount owed on finance or lease agreements. In the event of theft or a total write-off, standard motor insurance typically only reimburses the current market value, which can leave buyers with a financial shortfall. GAP Insurance is particularly valuable for retail buyers financing a vehicle purchase, as it ensures they are not left with outstanding payments beyond the insurance payout. The FCA announced a pause in GAP Insurance sales in February 2024 as part of a review into fair value, before allowing sales to resume in July 2024. "Retailers slow to reintroduce GAP insurance despite rising consumer demand" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
