SiriusPoint invests in broker seeking to ‘disrupt’ commercial trucking insurance

Global specialty re/insurer  SiriusPoint has launched a strategic partnership with a niche commercial broker to improve coverage in an “underserved and growing” area of the US business insurance market.

LuckyTruck a digital broker and aggregator specialising in commercial trucking insurance in the US. The company aims to “disrupt” commercial trucking insurance brokerage, offering an alternative to “slow, difficult, paper-heavy” processes.

SiriusPoint hopes its partnership with LuckyTruck will generate insights and understanding into the evolution and behaviour of the small commercial trucking segment, and create opportunities 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, solidifying new partnerships with key members of the ecosystem (such as MGA’s, Carriers and Trucking Groups) and building out its specialised trucking digital distribution platform.

“We welcome LuckyTruck to our growing portfolio of partnerships focused on driving disruptive change in the Insurance industry” said Patrick Charles (pictured), 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.”

Devin Bostick, CEO and founder of LuckyTruck, 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.”

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