Companies join forces to provide tech-powered safety and security solutions to the construction industry.
(St. Louis, Mo., Aug 1, 2023) – Leif Assurance, a full-service insurance agency that exclusively handles construction insurance, recently formed a partnership with EquipmentShare, a nationwide equipment rental and fleet management software company serving the construction industry. The companies will work together to resolve safety risks and theft in construction, two challenges that reduce productivity and impact lives.
Leif Assurance is a start-up agency created in 2021 and launched in 2022 that has quickly grown to more than $31 million in annual premiums. The agency offers actionable risk management, as well as data-driven pricing models to build the most accurate risk profiles so contractors are rewarded for safe job sites with earned insurance savings. Leif provides cost-effective and comprehensive proprietary insurance solutions for worker’s compensation, general liability, builders’ risk, inland marine, and commercial auto.
Founded in 2015 and based in Columbia, Mo., EquipmentShare drives productivity, efficiency, and collaboration across the construction sector through its proprietary technology T3, a comprehensive suite of solutions that powers its fleet management platform and equipment rental marketplace. The company monitors and manages a fleet consisting of more than 150,000 assets.
Leif Assurance is led by JD Powers, who has been in the risk insurance management industry for 16 years. JD serves as CEO at Leif Assurance and at his family’s two companies, Powers Insurance & Risk Management and Valley Insurance Agency Alliance (VIAA).
Leif Assurance currently has 12 employees with plans to add 10 additional team members by the end of 2023. The agency also has a proficient bonding department with in-house underwriting capabilities. Additional specialties include captive risk transfer strategies, self-insured programs, and maximizing bond capacity.
“We believe our new partnership with EquipmentShare highlights the strongest cost-effective insurance model available in the marketplace today,” said Leif Assurance CEO JD Powers. “We are proud to form this alliance with EquipmentShare because it effectively answers a need for promoting jobsite safety in the construction and equipment space.” Powers added that Leif’s first-year goal was exceeded “thanks to the natural synergies found in business ventures we have formed since our inception. We look forward to uniting more contractors with our proprietary insurance products through additional strategic partnerships like EquipmentShare in the near future.”
Leif Assurance is located in Powers Insurance & Risk Management’s building at 6825 Clayton Ave. along with sister company VIAA, a cohesive family of more than 160 independent insurance agencies in Missouri and Illinois. Powers Insurance & Risk Management is one of the largest family owned and operated independent insurance agencies in the bi-state region.
Powers Insurance & Risk Management was founded in 1991. Founded in 2006, VIAA generates more than $600 million in written premium and is the regional founding member for SIAA – The Agent Alliance, a $12.5 billion national insurance network. For more information, call (314) 202-4200 or visit www.leifassurance.com.
