– Indian fleet owners and truckers will be able to buy motor insurance on Vahak’s App post Coverstack’s tech stack integration
Bangalore– February 14, 2023: Vahak, India’s most trusted transport community platform, today announced a strategic partnership with Coverstack, a digital B2B insurance infrastructure solution platform.
Vahak, co-founded by IITians Karan Shaha and Vikas Chandrawat in 2019, is on a mission to digitise the Indian logistics sector that currently contributes over 14 per cent to India’s GDP. This logistics tech company is fostering India’s largest ecosystem of transport SMEs, shippers and lorry/fleet owners on its website and app, amid the fast growing $250 Billion Logistics Sector in the country. While CoverStack provides technological solutions and insurance infrastructure to BFSI industry players. Aiming to revolutionise the insurance buying market, CoverStack offers a zero-code, ready-to-use, full-stack platform for buying and servicing insurance digitally, enabling a mass reach out.
With this collaboration, Vahak will bring Coverstack’s cutting-edge insurance technology for the Indian trucking community to its app, making digital insurance processes efficient, fast and cost-effective. This tech stack integration on Vahak’s app is expected to be completed in the next two months. Elaborating on the collaboration, Karan Shaha, Co-Founder and CEO at Vahak, said, “Our vision is to build a trusted transport community platform that looks out for transporters, fleet owners, and truckers’ well-being. Our collaboration with CoverStack will empower the Indian trucking community with a more convenient and cost-effective way to get vehicle insurance. We are confident that our combined effort will bring greater peace of mind and security to the Indian trucking community.”
Sanjib Jha, CEO, Coverstack, added, “We are excited to partner with Vahak, as we believe that this collaboration will bring innovation and value to the Indian trucking industry. By leveraging the strength of both companies, users will receive the best motor insurance buying experience on their fingertips. Deep integrations have opened new avenues for the insurance sector, enabling insurance and non-insurance players to digitise or add insurance products to their portfolios within months.”
Post integration, over half a million monthly active users on the Vahak platform, will be able to buy motor insurance directly from the app at competitive prices. With this, Vahak has expanded its value-added service portfolio on top of GPS, safe and secure payments, digital brand building and networking for both, logistics supply and demand side players, in addition to its core AI and ML technology-enabled marketplace for load-lorry matchmaking with true price discovery and efficient return load booking features.
