As providers of Uber driver insurance comparison service, we have put together selection of some of the taxi apps currently available and there features and challenges they face.

It is estimated that the taxi industry in the UK is almost worth £9 billion and no one company has a major share of it. This is one of the reasons why many technology-geared companies are keen to move in and profit from this valuable opportunity. Only recently, Google has invested in the US taxi app Uber with $333 million and in UK based company Hailo with $77 million.

This industry is gaining a lot of attention through various media channels which is also another reason how Hailo came into existence. It is one of London’s most popular taxi apps and was formed by the collaboration of a group of taxi drivers and savvy investors.

Variety of Choice

It is considerably facilitating a need in the market for customers who now find contacting and locating a taxi cab easier than before. A similar competitor Kabbee uses London minicabs which is half the price of black cabs used by Hailo. Busy commuters need access to quick and reliable cab services which is being provided by these two leading players of the market.

Although people remain comfortable calling a cab service rather than accessing it over an app, old habits are eventually being transformed. The aim of these applications is to target the more impulsive audience of the industry.

These apps act as a third party when it comes to taxi bookings and facilitate the booking process between taxi drivers and passengers. A good cab service equals to delivering high quality customer satisfaction which ultimately leads these applications to function and schedule efficiently.

They achieve this by bridging the gap between the taxi driver and the customer. Since these apps act as a middle person for many bookings, it is their responsibility to manage taxi drivers, their schedules, follow-up with customers and address their concerns and complaints.

Features provided by the Apps for the Taxi Industry

As mentioned above, the purpose of these apps is to support the taxi industry as well as provide a long-lasting and satisfying experience to customers. So, it’s as easy to get a taxi in Newbury as it is in Trafalgar Square. They are able to address issues which the taxi industry is falling out on, which ultimately results in a personalised approach to satisfying customers.

In case the customer is wondering if the taxi will arrive on time, they can call the helpline provided by the app to enquire. Taxi drivers have a direct access to customers and can call them if they face any difficulties with directions.

Customers also have the option to monitor how far the taxi is from their location through an interactive map. Taxi drivers before, didn’t have any access to personal information of the customer. But these apps have all detailed information about a specific customer from email address, residence address, contact number and name. So for instance if a customer didn’t pay or ran out on a taxi driver, they can always be tracked down and reported to the police. Payments have been streamlined and automated to make the process swift and easy for both customers and taxi drivers.

Challenges Faced by Apps

Even though these apps have changed the face of the taxi industry, they are experiencing a number of limitations in order to capture and attract the market. For them to penetrate the taxi industry, apps will require to cut a deal with long-established taxi companies who would be willing to share their income and their customer profile with them. This is unlikely to happen any time sooner, especially since these establishments have an orthodox belief and don’t easily understand how innovative techniques can help them accomplish a highly satisfied customer base.

Taxi apps have been a disruptive technology for the taxi industry, albeit one that the consumer seems to be benefiting from. What are your thoughts on the emergence of taxi apps - let multi quote taxi insurance know?