Today, every global industrial sector is in a state of flux. For businesses to survive in a post-pandemic world, we must re-prioritise and reshape our practices to ensure companies operate responsibly and efficiently. According to Biswajit Kundu Roy, CEO of Coastr, a digital car rental management solution company established in 2018, radical change was long overdue.

Software That Empowers Business Owners

Coastr’s innovative SaaS platform is the only solution in the market that provides independent car rental businesses with the latest tools and technologies needed to become fully digitised. It therefore empowers them to compete with major market players. An all-in-one digital platform, Coastr combines booking and fleet management with IoT to digitise every aspect of day-to-day operations. This provides car rental agencies with a convenient, future-ready solution which enables them to grow their business through data-driven decision-making, minimised risks and reduced costs. Customers receive a new-age contactless car rental experience through an easy-to-use travel app, which is currently underway.

By resolving every key operational issue faced by independent operators at scale through technology, Coastr envisions to introduce the car rental industry to radical change. End-users are enabled to cut through the long queues and experience seamless rentals through innovations like keyless entry and selfie-upload customer verification.

Additionally, Coastr is revolutionising the car rental insurance market by developing on-demand insurance. This feature gives access to usage-based premiums, while reducing risks through data-driven usage monitoring of fleet.

Post-Pandemic Business

Looking ahead, as the world continues to emerge from the lockdown, Biswajit believes the time is most opportune for smaller services to expand operations. “They get a good deal without spending a huge amount of money,” says Biswajit. “Many independent operators have been impacted by lockdown restrictions and so has their ability to change a business model or achieve business goals.”

Artificial Intelligence is Improving Car Rental

The key to Coastr’s success is artificial intelligence. Using AI, the company will be able to track vehicle locations, as well as assess whether cars have sustained any damage or require maintenance. By being able to pre-emptively fix issues, the team estimates that car rental agencies will save up to 30% on repair costs. The result is cheaper, more accessible insurance for both the operator and end-user, further improving customer experience.

“It’s about being able to service different needs from the same platform…” the CEO explains, “…but at the same time, focusing on experience and making car rental really enjoyable.” User experience, customer satisfaction and industry evolution permeate through every aspect of Coastr’s philosophy. The company delivers to its promise by using AI and telematics to constantly track consumer patterns and insights. Each journey is GPS-tracked and, in case of an emergency, the car can be remotely disabled to prevent vehicle misuse. This, along with securing innovation grants from UK institutions for building the on-demand fleet insurance and the keyless entry solution for contactless rentals reinforces their reputation as an evolving leader of the sector offering a future-ready, fully contactless rental experience.

Looking Towards a Sustainable Future

With industry innovation as its top priority, the team is aware of the need to transition from fossil fuels for their fleet, and they’re considering ways to be prepared for Smart Cities. From green energy to self-driving cars, Coastr is “making way” for the future. “We are already working with some of the top automobile manufacturers to see how we can introduce greener vehicles,” shares Biswajit. “Some of the data we get from connected cars allow us to understand fuel usage and other patterns that further tell us about vehicles granting better utility.”