Digital broker and aggregator specialising in commercial trucking insurance LuckyTruck has entered into a strategic partnership with global specialty insurer and reinsurer SiriusPoint, which will see the company invest in the LuckyTruck vision.
LuckyTruck aims to make the purchase of insurance for trucking fleets in the US more transparent, customised, affordable and convenient, by offering an alternative to slow paper-heavy processes.
The niche broker offers truckers a range of insurance products specifically tailored to their needs and a transaction can be completed online in minutes, rather than the weeks it has historically taken to secure insurance.
SiriusPoint’s partnership with LuckyTruck will generate insights and understanding into the evolution and behaviour of the small commercial trucking segment, and create opportunity for the companies to develop insurance products in the space.
LuckyTruck said it plants to continue its expansion of business operations across the US, through adding new licensing, expanding the company’s talented producer base, solidifying new partnerships with key members of the ecosystem and building out its specialised trucking digital distribution platform.
Devin Bostick, CEO and founder of LuckyTruck, said, “Commercial trucking is undergoing a fundamental shift. There’s a heavy infusion of capital in this area, that translates to a vibrant and growing logistics ecosystem. At LuckyTruck, we are excited to strategically partner with SiriusPoint and enable small fleets to experience a truly world class risk management experience.”
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