Milestone Partners, Summit Partners, FS Investments, LBC Credit Partners, Principal Alternative Credit, and Everberg Capital Invests in Drive Assurance Holdings

05.26.2022

Drive Assurance Holdings LLC ("Drive Assurance") is a specialty auto insurance holding company with investments in GoAuto, a tech-focused, vertically integrated personal auto insurance platform providing low-limit policies through its managing general agent and insurance carrier subsidiaries, and Adaptive Information Technologies ("AIT"), GoAuto's affiliated technology platform. Drive Assurance leverages AIT's proprietary data analytics and underwriting software while distributing policies direct-to-consumer online and through 70 captive storefronts across Louisiana, Texas, Nevada and Ohio. Its insurance carrier's dedicated balance sheet capacity allows greater value chain capture augmented by reinsurance relationships that enable an asset light model and mitigate retained risk.