Urgently Drives Higher-Quality Customer Outcomes for Roadside Assistance with Launch of Next-Generation Yield-Based Pricing

VIENNA, Va., June 25, 2024 (GLOBE NEWSWIRE) -- Urgent.ly, Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, today announced the launch of next-generation yield-based pricing across its Service Provider Network. This AI-driven dynamic pricing technology makes it possible to reliably predict and optimize job prices for roadside assistance services, leading to higher-quality customer outcomes. Real-time yield-based pricing allows Urgently to better manage surges in roadside assistance demand, similar to surge pricing used by ride-hail services.

Insights and predictive pricing empower Urgently’s customer partners to build roadside assistance programs that best fit their business goals, such as:

Maximizing performance while maintaining a stable cost structureBalancing performance and cost by marketIncreasing performance by market or job attribute, such as a premium/VIP program

A combination of machine learning, location aggregation and micro-targeting by make, model and custom markets, delivers actionable insights into network pricing based on geographic location, population density, time of day, service quality and other location-based data. This premium level of end-user targeting helps Urgently’s customer partners optimize their roadside assistance programs.

Urgently’s proprietary pricing technology enables increased job acceptance and digital engagement with service providers, and significant improvement in annual performance metrics for customer partners.

“At Urgently, we believe roadside assistance is a brand-defining opportunity for our customer partners, and this is why our data and engineering teams continually look for ways to apply technology to advance the roadside experience,” said Matt Booth, Chief Executive Officer, Urgently. “We believe the advanced data analytics of our yield-based pricing technology leads to faster job acceptance by service providers, resulting in higher-quality outcomes that align with our customer partners’ brand-defined goals for customer experience – whether VIP, five-star or white-glove.”

Efficiently & Purposefully Engineered

Traditional roadside assistance job pricing models use county, zip code and basic trading area (BTA) data to determine pricing. Urgently’s yield-based technology takes job pricing to a new level with hexagonal location aggregation.

Urgently’s yield-based pricing technology has been efficiently and purposefully engineered, in part, by leveraging Uber’s proven, open-source H3 Hexagonal Hierarchical Spatial Index. H3 is a grid system for efficiently optimizing ride pricing, dispatches, and for visualizing and exploring spatial data. Urgently’s high-yield pricing technology uses H3 to analyze geographic information to set dynamic, reliably predictive, roadside assistance job prices and optimize dispatching. Hexagon-based location aggregation makes it possible to uniformly scale up and down dispatch areas.

Availability

Urgently’s yield-based pricing is currently being deployed nationwide across its network of service providers. Initially available for tire changes, battery jump starts, auto lockouts, fuel delivery and towing services, Urgently expects to expand its yield-based pricing technology to additional roadside assistance services in the future.

For more information about Urgently’s roadside and mobility assistance solutions visit https://www.geturgently.com/industry-solutions.

Forward Looking Statements

This press release contains or may contain “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or Urgently’s future financial or operating performance. Such statements are based upon current plans, estimates and expectations of management of Urgently in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Forward-looking terms such as “may,” “will,” “could,” “should,” “would,” “plan,” “potential,” “intend,” “anticipate,” “project,” “predict,” “target,” “believe,” “continue,” “estimate” or “expect” or the negative of these words or other words, terms and phrases of similar nature are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. All statements, other than historical facts, including, without limitation, statements regarding Urgently’s yield-based pricing technology. These statements are based on the current assumptions of Urgently’s management and are neither promises nor guarantees, but involve a significant number of factors that may cause our actual performance or achievements to be materially different from any future performance or achievements stated or implied by the forward-looking statements. For factors that could cause actual results to differ materially from the forward-looking statements in this press release, please see the risks and uncertainties detailed in our filings with the Securities and Exchange Commission (“SEC”), including in our annual report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on March 29, 202, our quarterly reports on Form 10-Q, including our quarterly report on Form 10-Q for the quarter ended March 31, 2024, which was filed with the SEC on May 14, 2024, and other filings and reports that we may file from time to time with the SEC. All forward-looking statements reflect Urgently’s beliefs and assumptions only as of the date of this press release. Urgently undertakes no obligation to update forward-looking statements to reflect future events or circumstances.

Contacts:
For Press: [email protected]
For Investors: [email protected]

Source: Urgent.ly Inc.

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