Over in the US market, HDVI has been pretty busy, here’s the word;
High Definition Vehicle Insurance (HDVI), a technology-first commercial auto insurance provider, brings strong momentum into 2024 fueled by business growth, the safety performance of its fleet customers, additions to its senior leadership team, and plans to target new market segments.
“HDVI’s commitment to making trucking insurance more innovative, efficient, and tailored to the evolving needs of the industry remains unwavering,” said HDVI Co-Founder and CEO Chuck Wallace. “We lead the industry in using AI-driven underwriting to transform commercial trucking insurance and will continue to help customers improve their safety performance and reduce costs.”
The company’s ability to maximize the potential of safety-related telematics data helped its customers mitigate risk with nearly 200 million miles of safe driving in 2023. As a result of improved safety performance, HDVI fleet customers saved $1.1M in insurance premiums, with the best performers saving about $2,000 per truck annually.
The results also helped HDVI grow its business by over 100% year-over-year in 2023 and attract top industry talent to its strong team, Wallace said, pointing to the following leadership announcements:
- Reid Spitz, previously HDVI’s chief product officer, now serves as the company’s president. He continues leading software products and distribution and now oversees other major functions, including underwriting, insurance product and actuarial, and engineering and data.
- Paul McCaffrey, an accomplished financial and operational executive with over 25 years of experience in the property casualty space, joins the company as chief financial officer, reporting to Wallace. Prior to joining HDVI, McCaffrey held CFO positions at CSAA Insurance Group (a AAA Insurer), Grange Insurance, and American Share Insurance as well as senior financial positions at Nationwide and Ernst & Young.
- Ron Honken, a business growth and insurance agency management leader with over 30 years of experience, joins the company as senior vice president of business development, reporting to Spitz. Honken most recently served as chief growth officer, transportation and logistics at AON, where he led a risk advisory team and expanded the company’s client base. His prior experience focused on forging new agency partners and managing growth at Great West Casualty Co., Hudson Insurance Group, Berkley Fleet Services, and Carolina Casualty.
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