LuckyTruck, a digital broker and aggregator has secured an investment and partnership with specialty re/insurer SiriusPoint.
LuckyTruck is a niche broker focused on making the purchase of insurance for trucking fleets in the US more transparent, customized, affordable, and convenient.
The company aims to disrupt commercial trucking insurance brokerage, offering an alternative to slow, difficult, paper-heavy processes.
SiriusPoint’s involvement is expected to generate insights and understanding into the evolution and behavior of the small commercial trucking segment, and create opportunity for the companies to develop insurance products in the space.
LuckyTruck aims to continue its expansion of business operations across the US, through adding new licensing, expanding the company’s producer base.
“We welcome LuckyTruck to our growing portfolio of partnerships focused on driving disruptive change in the Insurance industry” said Patrick Charles, Head of Americas P&C at SiriusPoint.
“We are excited to partner with LuckyTruck to accelerate innovation in the commercial trucking insurance space.
“Our strategic partnership is an opportunity to drive change where it’s needed, to improve insurance coverage and customer experience in an underserved and growing area of the US business insurance market.”
CEO and Founder of LuckyTruck, Devin Bostick, added, “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.”