Buckle Named a “Most Innovative Insurtech Startup”

Buckle, the digital financial services company building auto insurance products for gig drivers, has been named to the first annual Insurtech 50 list by CB Insights. This list showcases the most promising private insurtech companies across the globe. The research team at CB Insights selected Buckle from a pool of over 2,000 companies based on factors including R&D activity, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, tech novelty, and more.

“We are thrilled that Buckle is being recognized for reimagining and rebuilding the insurance value chain. Through our insurance offering, we are able to partner with rideshare companies, delivery platforms, and Managing General Agents (MGAs) to broadly support the gig economy,” said Marty Young, CEO and co-founder of Buckle. “We are pleased to advocate for drivers, meet them at their preferred point-of-sale, and offer them access to auto insurance services that help them succeed. We also provide drivers member benefits that help them do their job better.”

“The companies in our inaugural Insurtech 50 have built and harnessed new technologies to improve all aspects of the insurance value chain, from customer acquisition to underwriting and claims for a variety of different insurance products,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Together they are accelerating innovation across an industry that directly impacts human health and well-being.”

In addition to its insurance-as-a-service offerings, Buckle offers gig auto policies that combine the key coverage features of both a commercial and personal auto policy, providing members with critical coverage for them to operate with both business-type exposures and also as an individual simply driving their vehicle for personal use. Buckle’s policies close gaps in coverage based on the specific differences of each rideshare or delivery company while also avoiding potentially costly duplications in coverage.

Unlike most companies, Buckle does not have a flat surcharge for customers participating in the gig economy. The company also does not use a driver’s credit score to evaluate its gig auto insurance. This can provide savings for rideshare and delivery drivers who may be penalized due to their credit.

In addition, because a significant number of gig drivers are non-standard, Buckle has strategic partnerships with select MGAs to provide both non-standard auto and gig policy solutions through their extensive agency networks.