Logistics Firm BlackBuck Gets IRDAI Nod To Act As Insurance Corporate Agent

BlackBuck, a logistics major, has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to act as a composite corporate agent. 

The licence, which was valid until July 2028, allows the company to offer life, health and general insurance policies from registered insurers to its users—mainly truck drivers—across the country.

This move is part of BlackBuck’s goal to become a complete digital platform for truckers. In recent years, it has added services like FASTag for tolls, fuel cards, loans for small fleet owners and digital tools to match drivers with freight.

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Adding insurance services helps fill a key gap in truckers' daily needs and creates a new revenue stream for BlackBuck through commissions.

This follows closely after the company received a prepaid payment instrument (PPI) licence from the RBI. While details are still under wraps, the licence is expected to help simplify FASTag and fuel payments for truckers.

The PPI licence allows the company to run a payment system where users can store money and use it for payments and other financial services. It will help simplify digital transactions on the platform and make it easier for truckers to manage their finances.

About BlackBuck 

Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya and Rama Subramaniam, BlackBuck focuses on inter-city full truckload (FTL) transport, connecting truck operators with businesses of all sizes for real-time shipping needs. It also provides telematics services and vehicle financing options.

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Financially, BlackBuck posted a consolidated net profit of INR 280.1 Cr in Q4 FY25, a sharp turnaround from a net loss of INR 90.8 Cr in the same quarter last year. Its operating revenue rose 30.6% to INR 121.8 Cr from INR 93.2 Cr in Q4 FY24.