With its two new distribution partners, Koffie will expand to Georgia and Pennsylvania
Koffie Labs (Koffie), an insurtech focused on reinventing the trucking and transportation markets, announced two new distribution partners, Cooper Insurance & Associates and Fleet Risk Management/Assured Partners of GA. Following its insurance partnership with Sutton National in July, the insurtech is now rapidly expanding its footprint offering seamless end-to-end insurance to truckers in Georgia and Pennsylvania.
Koffie began underwriting in Tennessee and Illinois in July 2021 and the insurtech’s new distribution partnerships will spearhead the roll-out of admitted trucking products in Georgia and Pennsylvania. The company reported a 5x increase in policies bound and 20x increase in premiums written month over month since launch and confirms plans to file in more than ten states within the first six months following its launch.
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Georgia and Pennsylvania are logistics hubs for the US, housing the 5th and 7th largest number of motor carriers, respectively. Koffie strives to increase road safety in these challenged markets, offering competitive rates and an excellent product to fleets that prioritize driver, fleet, and vehicle safety. Koffie’s AI-driven predictive models, which underwrite dozens of safety features, also allow the company to build insurance products for emerging risks like self-driving vehicles. Koffie stands to catalyze the adoption of safety tech as incumbent insurers face increased challenges to underwrite the rapidly changing landscape, including autonomous technologies.
“At Cooper Insurance & Associates, safety is paramount for our customers. Our partnership with Koffie supports us in advising on best-in-class safety practices with top-notch coverage that isn’t typically available to the smaller fleets,” said Ed Cooper, CEO of Cooper Insurance & Associates.
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“Koffie’s unique value proposition allows us to offer attractive premiums and a seamless experience to our safety-conscious clients,” said Bob Fuller, Agency President of Fleet Risk Management/Assured Partners.” “We’re excited about the opportunities for insurtech to change our industry and for Koffie’s forward-thinking approach to enhance driver and fleet safety.”
“Expanding Koffie’s footprint today, and in the coming months, will broaden our impact on road safety through the adoption of technology. Paired with affordable coverage, our insureds can focus on what matters most; retaining their drivers, increasing profitability, and reducing crashes.” said Mike Dorfman, Koffie COO.
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