47-state licensed carrier owned by Buckle continues to advance digital fronting strategy
Buckle, a tech-enabled financial services company, announced its licensed carrier, the Gateway Insurance Company, has been assigned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc.
In June, Buckle announced the acquisition and recapitalization of Gateway, including its 47 state insurance licenses. Through its digital fronting strategy™, Buckle has expanded insurance coverage to include transportation network companies (TNCs), traditional taxi, limo, and livery businesses using Lyft, Uber, and other apps.
“A Demotech rating enables us to continue the rapid advance of our digital insurance strategies in new and exciting ways,” said Marty Young, co-founder of Buckle. “We purchased, capitalized, seasoned, and relaunched Gateway all in one day. Two months later, we are successfully writing taxi and limo policies in 33 states with our partner, Anchor Group Management, Inc. and plan to expand into a