Heavy Definition Vehicle Insurance

High Definition Vehicle Insurance (HDVI) operates as a technology-centric commercial auto insurance provider, targeting the specific needs of small and mid-size trucking fleets. The company was founded in 2017 by Chuck Wallace and Reid Spitz. Wallace, a serial entrepreneur and former U.S. Air Force pilot, previously co-founded Esurance, which was later acquired by Allstate. Spitz's background as a venture capital investor at 8VC, where he focused on logistics and insurtech, led him to identify the market opportunity for a data-driven insurance model. Together, they aimed to address a trucking insurance market they considered broken, where rising premiums didn't account for fleets' investments in safety.

HDVI's business model is built on integrating insurance with technology to more accurately price risk and promote safety. The company functions as a full-stack managing general agent, handling the entire policy lifecycle from underwriting to claims management. Its core product, HDVI Shift™, is a dynamically priced insurance policy that leverages real-time telematics data from electronic logging devices (ELDs) and dash cams. This usage-based approach allows fleets to earn monthly discounts on their premiums—up to 20%—based on their safety performance, which is a departure from the traditional annual review model. Revenue is generated through the sale of these insurance policies, which are backed by A+ rated reinsurance partners like Munich Re Specialty Insurance and Spinnaker Insurance Company.

The company's platform provides clients with a suite of tools to manage and improve safety. The HDVI Fleet Portal offers insights into telematics data, safety trends, and DOT compliance, while the HDVI Driver+ app engages drivers with their safety metrics and a rewards program. Each policyholder is paired with a dedicated Fleet Services representative who provides support on insurance, telematics, and safety coaching. This integrated model has shown quantifiable results, with 90% of HDVI customers improving on metrics like speeding or hard braking within their first year. Since its inception, HDVI has secured over $87 million in funding through multiple rounds, including investments from 8VC, Munich Re Ventures, Weatherford Capital, and Daimler Trucks North America, to fuel product development and national expansion.

Keywords: commercial trucking insurance, insurtech, telematics insurance, fleet risk management, usage-based insurance, fleet safety, commercial auto insurance, dynamic pricing insurance, HDVI Shift, truck insurance, logistics technology, fleet management software, trucking telematics, driver safety rewards, small fleet insurance, mid-size fleet insurance, data-driven underwriting, commercial vehicle insurance, insurtech startup, fleet services