Vahak, a transport community platform, has announced a strategic partnership with Coverstack, a digital business-to-business (B2B) insurance infrastructure solution platform.

Vahak was co-founded by IITians (IIT alumni) Karan Shaha and Vikas Chandrawat in 2019. The company aims to digitise the Indian logistics sector which contributes over 14 per cent to India’s GDP (gross domestic product). It fosters an ecosystem of transport small and medium enterprises (SMEs), shippers and lorry or fleet owners on its website and app. 

CoverStack provides technological solutions and insurance infrastructure to the banking financial services and insurance (BFSI) industry.  It 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 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. 

“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,” said Karan Shaha, co-founder and chief executive officer (CEO) of Vahak.

“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 at 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,” added Sanjib Jha, CEO, Coverstack.

Post integration all 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 for both, logistics supply and demand side players, in addition to its core artificial intelligence (AI) and machine learning (ML) technology-enabled marketplace for load-lorry matchmaking with true price discovery and efficient return load booking features.