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    Drivelah Singapore's First P2P Car Rental Company: Using-New-Car-Sharing-Firm-Drive-Lah

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    Loy wei peng
    Drivelah is Singapore's first peer-to-peer (P2P) car rental company that allows private car owners to rent out their vehicles. It operates an online platform that facilitates transactions between car renters and owners through chat functions for negotiation, secure payment methods, and a review system to encourage trust between parties. Drivelah holds a $500 security deposit on renters' credit cards for each booking and ensures cars are comprehensively insured on a per-trip basis through an insurance partner without impacting owners' own insurance policies. However, as a new entrant, Drivelah faces competition from established car rental companies and sharing platforms that manage fleets directly.

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    Drivelah Singapore's First P2P Car Rental Company: Using-New-Car-Sharing-Firm-Drive-Lah

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    Loy wei peng
    53 views1 page
    Drivelah is Singapore's first peer-to-peer (P2P) car rental company that allows private car owners to rent out their vehicles. It operates an online platform that facilitates transactions between car renters and owners through chat functions for negotiation, secure payment methods, and a review system to encourage trust between parties. Drivelah holds a $500 security deposit on renters' credit cards for each booking and ensures cars are comprehensively insured on a per-trip basis through an insurance partner without impacting owners' own insurance policies. However, as a new entrant, Drivelah faces competition from established car rental companies and sharing platforms that manage fleets directly.

    Original Description:

    Analysis of drivelah as a platform company

    Original Title

    drivelah casestudy

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    Drivelah is Singapore's first peer-to-peer (P2P) car rental company that allows private car owners to rent out their vehicles. It operates an online platform that facilitates transactions between car renters and owners through chat functions for negotiation, secure payment methods, and a review system to encourage trust between parties. Drivelah holds a $500 security deposit on renters' credit cards for each booking and ensures cars are comprehensively insured on a per-trip basis through an insurance partner without impacting owners' own insurance policies. However, as a new entrant, Drivelah faces competition from established car rental companies and sharing platforms that manage fleets directly.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    53 views1 page

    Drivelah Singapore's First P2P Car Rental Company: Using-New-Car-Sharing-Firm-Drive-Lah

    Uploaded by

    Loy wei peng
    Drivelah is Singapore's first peer-to-peer (P2P) car rental company that allows private car owners to rent out their vehicles. It operates an online platform that facilitates transactions between car renters and owners through chat functions for negotiation, secure payment methods, and a review system to encourage trust between parties. Drivelah holds a $500 security deposit on renters' credit cards for each booking and ensures cars are comprehensively insured on a per-trip basis through an insurance partner without impacting owners' own insurance policies. However, as a new entrant, Drivelah faces competition from established car rental companies and sharing platforms that manage fleets directly.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Drivelah  Singapore’s first P2P car rental company

    Not a failing enterprise per se, but an emerging platform that will be competing against established
    firms.

    1) Triangulation: People who want to buy and sell have to be able to identify each other, meet
    and negotiate
    a. Chat functions to negotiate
    2) Transfer: Products are delivered through ways in which both parties can agree with
    a. Face to face meeting for all transactions
    3) Trust: Safety in transaction, no fraud in exchanges
    a. A review system for both renters and owners also encourages good maintenance
    and use of the vehicles, he said.
    b. For bookings, Drive lah will also hold a S$500 refundable security deposit on renters’
    credit cards.
    c. pictures of the car and these pictures will have to be checked by the car owners
    before any booking begins and ends via the platform
    d. Real name verification NRIC, address, driving license
    e. comprehensively insured” on a per trip basis by Tokio Marine Insurance Group
    ( no impact on the car owner’s insurance and no-claim discount)

    https://www.todayonline.com/singapore/airbnb-cars-private-owners-can-rent-out-cars-any-day-
    using-new-car-sharing-firm-drive-lah

    https://www.straitstimes.com/singapore/transport/car-not-used-much-rent-it-out-for-cash

     Revenue sources:
    o P2P car-rental websites primarily make money by charging a nominal commission
    from every booked trip, which differs from platform to platform. Other common
    revenue generation channels may include banner ads and on-site car promotion (to
    appear at the top of results).
     Perks:
    o Cheaper rates
    o Not universal prices
    o Flexible timings (negotiation)
    o Backed by regulatory sandbox (extra publicity)
     Vulnerability to external competition (car rental companies)
    o Limited supply, scale dependent on listers, "People think it's 'free money' but, in
    practice, these costs (car wear and tear, etc) mean that it is not such an attractive
    option for the average private car owner in Singapore, where most car owners are
    quite well off," Associate Professor Theseira said
     Internal competition
    o Carclub
     Cars are listed on the platforms and managed by the platforms not by
    owners directly

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