SiriusPoint announces trucking partnership

Specialty re/insurer SiriusPoint has announced a partnership with Ohio-headquartered LuckyTruck Corp, a digital broker and aggregator specialising in commercial trucking insurance.

The niche broker aims to disrupt commercial trucking insurance brokerage, offering an alternative to slow, difficult and paper-heavy processes, it says.

SiriusPoint’s partnership with LuckyTruck will generate insights and understanding of the small commercial trucking segment and create opportunities for the companies to develop insurance products for it. $3.5 million in seed funding will also help LuckyTruck continue expanding operations across the US, adding new licensing, expanding its producer base, solidifying partnerships with MGAs, carriers and trucking groups, and building out its specialised trucking digital distribution platform.

The news follows the announcement in September of a  strategic partnership with Vouch Insurance, the fully-digital business insurance platform for startups.

“We welcome LuckyTruck to our growing portfolio of partnerships focused on driving disruptive change in the insurance industry”, said Patrick Charles, SiriusPoint head of Americas P&.C

“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.”