Expanding the one-stop shop of products and services offered by Ford Pro to commercial customers, Ford Credit announced plans “to launch Ford Pro Insure, a new commercial auto insurance product powered by Pie Insurance.”
Jim Drotman, Ford Pro FinSimple executive vice president overseeing commercial financing and insurance, said:
“Ford Pro customers have come to expect a complete set of products and services that ensure their fleets are the most efficient and productive business tools they can be. Insuring their vehicles through Ford Pro Insure will be an important part of that seamless experience that helps many business customers lower their total cost of fleet ownership.”
Ford Pro Insure will “cover commercial vehicles purchased through Ford Pro and other channels.”
It will be provided “through Ford Credit’s rated insurance subsidiary and is expected to begin rolling out in the first half of 2023.”
The insurance team of Ford Pro FinSimple, Ford Credit’s commercial financing unit, “is working with Pie Insurance.” Pie, an Insurtech specializing in commercial insurance for small businesses, will “provide distribution, underwriting, servicing and claims.”
Drotman remarked:
“We are focused on developing capabilities in key areas that are important to commercial customers. Insurance is critical for business. We believe leveraging Pie’s experience in commercial insurance technology in delivering Ford Pro Insure will help us bring a seamless financing and insurance option to businesses quickly, all under one roof.”
Dax Craig, co-founder and president of Pie, added:
“Since our founding in 2017, Pie’s mission has been to empower small businesses to thrive by making commercial insurance affordable and as easy as pie. We’re excited to grow our efforts to support small businesses with this expansion of our work into commercial auto coverage by working with the Ford Pro FinSimple team to bring Ford Pro Insure to the market.”
More details about Ford Pro Insure “will be available closer to launch.”
As noted in the update, Ford Motor Credit Company claims it is “a leading automotive financial services company.”
It provides dealer and customer financing “to support the sale of Ford Motor Company products around the world.”
This includes financial services “through Lincoln Automotive Financial Services in the United States, Canada and China, and for commercial customers through the Ford Pro FinSimple brand in North America and Europe.”
Ford Insure and Lincoln Motor Company Insure retail insurance products “are available in the U.S. Ford Credit is a subsidiary of Ford established in 1959.”
As covered, Pie Insurance is “leveraging technology to transform how small businesses buy and experience commercial insurance, with the goal of making it affordable and as easy as pie.”
Pie’s intense focus “on granular, sophisticated pricing, and data-driven customer segmentation enables Pie to match price with risk accurately across a broad spectrum of small business types, which allows Pie to offer more affordable insurance to small business owners.”
Since 2017, Pie has “received over $615 million in funding and partnered with over 2,800 agencies nationwide.”