Nirvana Insurance announces new top tier reinsurers and doubling of capacity
Today we’re excited to announce that we have more than doubled capacity with the support of AM Best A+ rated reinsurance partners. This capacity increase positions Nirvana as one of the fastest-growing trucking insurers of all time.
"We’re excited that some of the largest names in the industry have seen what we’re accomplishing and are eager to be a part of modernizing commercial insurance. It’s a testament to our innovation and our ability to provide ultra competitive rates while maintaining best-in-class loss ratios," says Rushil Goel, Nirvana CEO. "As we secure top-tier reinsurers and expand our capabilities, we're looking forward to further opportunities to transform the commercial insurance landscape."
We were able to grow so dramatically because of our excellent ability to understand the true risks of each fleet and the partnership of our world class network of agencies and brokers. “Given the current market environment in Commercial Auto, programs are experiencing the strictest reinsurance underwriting requirements in recent history,” said Justin Ward, Head of Production for North America Programs with Gallagher Re. “Reinsurers are seeking to partner with the most disciplined underwriting teams who display an extreme depth of knowledge in their space and proactively utilize industry-leading tools and metrics to assess risk. The Nirvana team has aligned with these underwriting requirements, and as a result, they have garnered distinguished traction in the marketplace.”
Driven by AI, telematics, and computer vision, our mission is to bring new data led insights to the dynamic landscape of commercial trucking underwriting and passing along both savings and AI-powered safety insights to fleets throughout the US.
This reinsurance news comes on top of some other major developments, including a successful raise of a Series B raise last year, the recent launch of a Non-fleet program with SiriusPoint, and the addition of Heavy Haul to our Appetite. Nirvana now operates in 26 states.