Born in April 1994, an auspicious time filled with promise, we have not for a moment stopped adapting and innovating.
Because we got to know you and what your business needs.
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The Very Beginning
It took less than a year for our managing director and co-founder, Locke Purdon, to decide to focus exclusively on truck insurance. At the time, truckers were not a good risk for insurers, and they were paying sky-high premiums because of that.
He set out to change this status quo for both the insurer and the smaller fleet owner. He soon realised there were far better and more efficient ways to manage risk…
A Watershed Year
By the early 2000s, Locke had proven he could make money for other insurance companies. It was time for him to take the newly renamed Trucksurance to the next level.
In 2003 came his eureka moment of insight – and the start of a radically different approach to insurance. He launched Tandem Equity, in which our policyholders own 50% of the shares.
When the company makes a profit, so do you, and its dividend payouts put actual money back in your pocket.
The Entrepreneur Awakes
Over the next few years, Locke would refine his business philosophy as he learned to anticipate and outsmart the constantly changing cycles of the industry.
Then came a natural entry into intelligent on-road risk management, as existing telematics programmes showed no correlation between drivers’ scores and their likelihood of having accidents.
He launched DriveSmart to genuinely change truck driver behaviour and significantly reduce owners’ costs…
With You, Our Partner, in Mind
In 2018, Locke was delighted to welcome his son Luke to the business.
With a BCom honours degree in financial analysis, Luke has brought an added dimension to the expertise and experience that Trucksurance offers. Moreover, he brings the fresh perspectives of a new generation and the reassurance of long-term continuity.
Our business is now truly family-owned and managed, and we prize the values of accountability, loyalty and stability that it entails.