Boundless Rider Announces Distribution Partnership With Assurity Life Insurance Company, Expands Availability to Riders in Arizona

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Boundless Rider Insurance Agency LLC

Oct 30, 2023, 08:30 ET

Motorcycle and Powersport Insurtech Closes $4.25 Million of Additional Capital to Accelerate Business Partnerships and Bolster National Footprint

BOSTON, Oct. 30, 2023 /PRNewswire/ -- Boundless Rider Insurance Agency, LLC ("Boundless Rider"), a new insurtech focused on innovation for the motorcycle and powersports riding community, today announced that it has partnered with Assurity Life Insurance Company to distribute accidental death and dismemberment insurance to policyholders as part of the company's holistic approach to protecting riders and their families. Assurity joins Belmont Capital and lead investor American Family Ventures in participating in Boundless Rider's latest funding round of $4.25 million, bringing the company's total funding to $11 million. The new infusion of capital will be used to accelerate partnerships with insurance companies, retail agents, and dealers while expanding insurance access to additional states across the country.

"We designed Boundless Rider to meet the unique needs of motorcycle and powersports riders, and we've been encouraged by the market signals that we've seen from riders and industry partners alike," said Blair Baldwin, Founder and CEO of Boundless Rider. "We recognize that riding any of the vehicles we insure carries additional risk that is best covered through a supplemental accidental death policy, which is why our new partnership with Assurity is such an important initiative. We're grateful for the continued support from our investors and partners as we continue to enhance our product offerings and scale the business."

Boundless Rider plans to offer policyholders the option to purchase a supplementary accidental death and dismemberment policy from Assurity, such as $100,000 to $350,000 in coverage. More information on Assurity can be found at www.assurity.com.

"Throughout our conversations with Blair and his team, it became clear that there were many synergies between our companies, both from a distribution and an investment perspective," said Sophie Norman, Senior Director of Assurity Ventures, the company's business arm dedicated to building relationships with insurtech and fintech startups to harness new methods of interacting with prospective customers. "We've been impressed with Boundless Rider's innovation in claims and commitment to rider centricity, and we're proud to offer their policyholders the opportunity to buy supplemental coverage from Assurity. As an investor, we are eager to see Boundless Rider continue to create new areas of growth in this vertical."

Today's news arrives as Boundless Rider expands availability to Arizona, making the company's competitive, specialty insurance policies available to even more riders in the Southwest region. Owners of on-road and off-road motorcycles, ATVs, UTVs, scooters, and mopeds can now purchase coverage online through the Boundless Rider website or through agent partners. In the coming months, policy coverage will also be available for e-bike riders.

Boundless Rider's agent portal enables users to quote and bind policies using its 30-second "quick quote" tool. Policies are available for new and emerging powersport vehicle classes, and agents can also access specialized coverage offerings and multi-line discounts to match riders with the coverage they need. Agents who are interested in gaining access to Boundless Rider's portal can sign up here. All policies in Arizona are underwritten by Incline Casualty Company.

About Boundless Rider
Boundless Rider Insurance Agency, LLC ("Boundless Rider") is focused on bringing product innovation, rider centricity, and excellence in claims to riders of specialty vehicles like motorcycles, scooters, ATVs, UTVs, and snowmobiles. Boundless Rider is a wholly-owned subsidiary of MileUp, Inc. For more information, please visit www.boundlessrider.com.

About Assurity
As a mutual organization, Assurity was founded on the simple concept of people coming together to support each other in moments of need. We help people through difficult times by providing affordable insurance protection that's easy to understand and buy. We all share in the future we create, and we believe in using our business as a force for good. Visit https://www.assurity.com/ for more information.

About Incline P&C Group
Bringing over 85 years of combined industry experience, Incline P&C Group is the premier insurance program market services firm. Key services include active program management, disciplined underwriting process, risk management, reinsurance expertise, and economic alignment. Founded in 2015, Incline has a team of over 65 employees; headquartered in Austin, TX with offices in Dallas, TX and Stamford, CT. To learn more about Incline P&C Group, visit: https://inclinepc.com/.

Contact: Jennifer Zimmerman, [email protected]

SOURCE Boundless Rider Insurance Agency LLC