Nirvana launches non-fleet program with SiriusPoint backing

SiriusPoint is announcing a strategic partnership with commercial fleet insurance startup Nirvana Insurance.

Backed by SiriusPoint paper, Nirvana is expanding its offering with a new non-fleet program, designed for fleets with fewer than 10 power units.

“We have been providing capacity to Nirvana since January 2022, so we were already familiar with its capabilities. During our working relationship, Nirvana has proven to be a high-quality underwriter of risk and demonstrated how the thoughtful use of telematics can better align driver behavior with underwriting risk. We believe Nirvana’s business model is promising and its offering ties into our purpose of providing security and resilience to those we work with.” – Patrick Charles, head of North America Insurance at SiriusPoint.

“Our fleet program launched in January 2022 and has unbelievable traction. Nirvana is changing the paradigm by proving how a better customer experience – lower rates, faster turnarounds for quotes, and access to a full safety platform – all of this results in a fundamentally stronger business, reflected in our market-leading loss ratio. The launch of our new non-fleet program is the next step in our evolution. We have a shared vision with SiriusPoint to be ‘best-in-class’ underwriters, and this partnership will enable us to lead the way in utilizing telematics to underwrite customers’ risk more accurately. The increased use of data and telematics are critical to the risk management of the auto sector and the evolution of its insurance coverage.” – Rushil Goel, co-founder and CEO of Nirvana.