Pouch Insurance Launches Micro-Fleet Rideshare Program in Tennessee

Pouch Insurance has introduced the Micro-Fleet Rideshare program, a new commercial auto insurance product catering to fleet owners in Tennessee operating within the gig economy. Underwritten by First Acceptance Insurance Company of Tennessee, Inc., this product addresses the insurance gap for vehicles not actively engaged with Transportation Network Company (TNC) platforms like Uber and Lyft. The program specifically provides coverage for off-platform exposures, crucial for fleet operators leasing to gig drivers.

Steve McKay, CEO of Pouch Insurance, acknowledged the unique challenges faced by small fleet owners in insuring their vehicles adequately. “Partnering with First Acceptance allows us to offer a tailored solution to those who need it most in Tennessee,” McKay noted. This collaboration represents Pouch's endeavor to fill a longstanding void in the market.

The Micro-Fleet Rideshare program accommodates fleets of up to 25 vehicles, utilizing a per-mile rating system informed by telematics data. This approach ensures that insurance costs reflect off-platform vehicle usage. Additionally, drivers need MVR clearances prior to policy inclusion. By working alongside existing TNC coverage, the program offers a comprehensive insurance solution without overlapping existing provisions.

Anthony Delaney, President of First Acceptance Insurance Company of Tennessee, emphasized the partnership’s value, stating, “We focus on serving customer segments that the broader market often ignores. Our collaboration with Pouch is a strategic move to rapidly deliver an admitted, well-structured insurance product.”

The program's pricing model, focusing on real-time vehicle data to gauge off-platform exposure, sets it apart from traditional flat-rate commercial auto insurance. Safe driving is incentivized through potential reductions in per-mile rates, and the program acknowledges effective fleet management with additional credits.

Launching initially in Tennessee, both companies aim for national expansion to address similar coverage gaps across the United States. Delaney highlighted the program's broad applicability, saying, “The gig economy is widespread, and our initiative aims to reach major markets nationwide.”

In addition to this program, Pouch Insurance also offers the Artisan Contractor Auto program, emphasizing its role at the intersection of insurance and the gig economy sector. Headquartered in Newtown Square, Pennsylvania, Pouch continues to innovate around the unique needs of small business owners within this dynamic industry.

For media inquiries, contact Steve McKay, CEO of Pouch Insurance (Steve@anyconnected.com), or Cathy Gunn from First Acceptance Corporation (CGunn@firstacceptance.com). Coverage availability is subject to state-specific regulations and approval processes.