BlackBuck, a major logistics company, has received permission from the Insurance Regulatory and Development Authority of India (IRDAI) to act as a composite corporate agent.
This license, valid until July 2028, lets BlackBuck offer different types of insurance—like life, health, and general insurance—to its users, mainly truck drivers, through registered insurance companies.
This step is part of BlackBuck’s plan to become a one-stop digital platform for truckers. Over the past few years, the company has already added services like FASTag for toll payments, fuel cards, loans for small fleet owners, and digital tools to connect drivers with freight.
Adding insurance services helps meet an important need in truckers’ daily lives and also gives BlackBuck a new way to earn money through commission on insurance sales.
This comes shortly after BlackBuck got a prepaid payment instrument (PPI) license from the Reserve Bank of India (RBI). Although full details haven’t been shared yet, the license is expected to make FASTag and fuel payments easier for truckers.
The PPI licence lets BlackBuck run a digital payment system where users can keep money and use it for different payments and financial services.
This will make digital transactions on BlackBuck’s platform smoother and help truckers manage their money more easily.
BlackBuck was started in 2015 by Rajesh Yabaji, Chanakya Hridaya, and Rama Subramaniam. The company focuses on full truckload (FTL) transport between cities, helping truck operators connect with businesses of all sizes for real-time shipping. It also offers services like vehicle tracking (telematics) and loans for buying trucks.
On the financial side, BlackBuck made a net profit of INR 280.1 crore in the fourth quarter of FY25, a big improvement compared to a net loss of INR 90.8 crore in the same quarter last year. Its operating revenue also grew by 30.6%, rising to INR 121.8 crore from INR 93.2 crore in Q4 FY24.
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