Other notable participants in the funding round include Belmont Capital, and Assurity Life. This latest injection of funds brings the total raised by the company to $11 million.
Established in 2022, Boundless Rider specialises in providing coverage for riders of motorcycles, e-bikes, ATVs, UTVs, and snowmobiles. The startup currently offers insurance services in Arizona and Texas.
In addition to its core insurance offerings, Boundless Rider has forged a strategic partnership with Assurity Life. This collaboration enables the startup to extend accidental death and dismemberment insurance to its policyholders, further enhancing the range of coverage options available to its clientele.
In a significant development, Boundless Rider has extended its services to Arizona, broadening access to its competitive and specialized insurance policies for riders in the Southwest region. This expansion allows owners of on-road and off-road motorcycles, ATVs, UTVs, scooters, and mopeds to conveniently purchase coverage online through the Boundless Rider website or via affiliated agent partners. Furthermore, the company has announced plans to introduce policy coverage for e-bike riders in the coming months.
The user-friendly agent portal provided by Boundless Rider empowers users to swiftly quote and bind policies using its 30-second “quick quote” tool. This portal accommodates various powersport vehicle classes, including new and emerging ones, offering agents access to specialized coverage options and multi-line discounts. This approach ensures that riders can be matched with the most suitable coverage for their needs. Agents interested in accessing Boundless Rider’s portal can sign up through the provided link. It’s essential to note that all policies in Arizona are underwritten by Incline Casualty Company.
“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.”
“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.”
