100% of customers insured and counting in less than a year- How Truq revved up insurance coverage for businesses on its platform
Truq is a 3rd party logistics company that uses technology to connect businesses and people to vehicles for their logistics needs. TruQ helps individuals and businesses find vehicles by matching them to the closest available driver. Truq has been able to scale their insurance distribution and claims process with the help of Grow.
Company
Truq
Industry
Logistics
Location
Nigeria
Size
11-50
Website
www.mytruq.com

Problem


Before integrating with Curacel, losses arising from trips were borne by the partner-driver and Truq. As a company with over 500 users and counting, this proved to be unsustainable in the long run and Truq sought out a better way to provide insurance for each trip.

As a tech-powered logistics business, the insurance process also had to fit in well with their business model. Truq needed insurance that was fast, easy and seamless to access- with an equally seamless claims process.

Insurance brokerage was also important for Truq to get the best insurance rates suited for their business. Securing insurance on their own would have meant speaking to multiple insurance partners and comparing rates afterwards.


Solution

Curacel Grow’s API technology has helped Truq provide instant insurance for all trips. Curacel was a great fit for Truq majorly because it was an all-in-one solution providing brokerage, technology and seamless insurance. Curacel stepped in as a broker to save Truq the time and manpower that could have been spent getting insurance on their own.
With Curacel Grow, the insurance process is transparent. The company has been able to build a solid relationship with their customers due to the credibility of the insurance process.


Results

Since partnering with Grow, Truq has been able to insure all business transactions on its platform and provide insurance on demand for individuals. Truq was also able to experience firsthand the ease of the Grow claims process when they had their first claim processed and paid out in November 2022. The process took less than a week with the Curacel team supporting them every step of the way.

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