Provider of insurance for gig workers Buckle and Amwins Specialty Auto (Amwins), a non-standard auto insurance specialist, have entered into a managing general agency (MGA) agreement.
Under the agreement, Amwins is underwriting non-standard auto (NSA) insurance policies for Buckle in Florida as well as Buckle’s gig auto insurance for rideshare and delivery drivers in the state. Gateway Insurance, one of Buckle’s insurance carriers, will be the admitted carrier for both products.
Through Amwins’ extensive agency network, Buckle/Gateway’s NSA product is being issued early December. Buckle’s gig auto insurance will be rolled out in the first quarter of 2022.
Buckle is the inclusive digital financial services company serving the rising vital middle class and providers to the gig economy. Using technologies and data sources, Buckle provides insurance and credit products to rideshare and delivery drivers who generally earn less than the average American wage and are subsequently penalised for having poor or no credit.
Unlike traditional insurers who cannot effectively insure gig workers, Buckle provides protection for those driving for leading companies, including Uber, Lyft, Instacart, Amazon Flex, Uber Eats, Grubhub, Gopuff, Favor, and others.
Buckle’s gig auto insurance for rideshare and delivery drivers uses data from Transportation Network Company (TNC) platforms to underwrite policies. By using rideshare and delivery data instead of credit scores, Buckle said it helps close the gap created by conventional insurance policies that leave gig workers underinsured or with higher premiums.
Copyright © 2021 FinTech Global