LEEO Insurance Services, LLC

What LEEO Insurance Services, LLC does

LEEO Insurance Services, LLC is a Managing General Agent (MGA) that underwrites commercial auto insurance through a network of appointed brokers, operating exclusively in the United States and headquartered in South San Francisco. The company serves three fleet verticals — Non-Emergency Medical Transport (NEMT), Light Business Auto, and Last Mile Delivery — and earns revenue via commissions on premium placed with AM Best A-rated carriers and surplus lines insurers, structured as recurring commission revenue. Distribution is broker-led, with dedicated customer success teams supporting onboarding, renewals, and broker growth.

LEEO's technology stack is built on camera-led telematics combined with AI-driven underwriting and predictive models applied across the full policy lifecycle from quote, rate, and bind through ongoing risk monitoring and claims. The platform claims 200B+ miles of proprietary driving data, uses agentic AI in underwriting decisions, and captures structured driving events (hard braking, rapid acceleration, speeding, phone use) alongside video for risk assessment. Claims processing is digitized via auto-FNOL with voice/photo capture, real-time fleet-manager alerts on detected crashes, and a dashboard for status tracking, while safe-driving behavior is reinforced through cashback rewards and renewal credits.

The company was officially relaunched on December 15, 2025, as a rebrand of Fairmatic, under CEO Jeffrey Chen with a new leadership team including a VP of Product (Kevin Jajich) and VP of Actuary (Darby Wallis). It is backed by Battery Ventures, Foundation Capital, and Aquiline Technology Growth, holds a California surplus lines license (#0L02394), and operates as an asset-light MGA — meaning it does not carry underwriting capital risk but is also constrained on margin capture relative to direct carriers. In March 2026, LEEO launched a telematics-powered product that makes telematics a core policy requirement, expanding the addressable fleet base beyond early adopters of optional telematics-based insurance.

Name

LEEO Insurance Services, LLC

Legal name

LEEO Insurance Services, LLC

Website

https://leeoinsurance.com

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

51–100 employees

Short description

LEEO Insurance Services, LLC is a US-based Managing General Agent that uses camera-led telematics and AI-driven underwriting to deliver commercial auto insurance to NEMT, light business auto, and last-mile delivery fleets through appointed brokers.

Ownership category

akta.pro rank

Product category

Commercial Auto Insurance

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industries

Commercial Auto & Fleet Insurance (FSAJAMAB), Auto Liability Umbrella / Excess (FSAJANAK)

Keywords

• Commercial auto insurance
• Telematics underwriting
• Managing general agent
• Fleet insurance
• AI-powered underwriting

Headquarters

HQ city

South San Francisco

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Others

Revenue model

1. Insurance Premium Revenue: LEEO acts as an MGA (Managing General Agent) earning commissions and potentially performance-based compensation from insurance companies for placing coverage. The company is backed by AM Best A-rated carriers and places insurance products with surplus lines insurers.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

LEEO Insurance Services, LLC operates as a Managing General Agent (MGA) that distributes commercial auto insurance through a network of brokers, using telematics and AI-driven underwriting to underwrite risks for commercial fleets. The company places coverage with AM Best A-rated carriers and targets three fleet verticals: Non-Emergency Medical Transport (NEMT), Light Business Auto, and Last Mile Delivery.

Product overview

LEEO is a commercial auto insurance MGA operating as a unified platform offering telematics-powered coverage across three fleet types: Light Business Auto (artisan and light commercial vehicles), Non-Emergency Medical Transport (NEMT), and Last Mile Delivery. The platform combines AI-driven underwriting, real-time telematics insights, streamlined digital claims processing, and broker workflow tools (accelerated quoting, rate & bind) into a cohesive system. The LEEO Appetite Guide serves as the eligibility reference for submissions. Cashback rewards and renewal credits for safe driving provide financial incentives tied to telematics performance. Fleets access real-time safety dashboards via web and mobile.

Differentiator

Problem solved

Functional benefit

Products and services

• LEEO Commercial Auto Insurance Platform AI and telematics-powered commercial auto insurance MGA platform that helps brokers win more business while helping fleets reduce risk and lower costs. Features accelerated quote, rate and bind experience with competitive pricing, and is backed by AM Best A-rated carriers.
• Telematics-Powered Insurance Product Insurance product for commercial fleets with embedded telematics and AI-driven underwriting, predictive risk modeling, and digital claims processing. Built for fleet operators including NEMT, Light Business Auto, and Last Mile Delivery.

Quantifiable outcome

• Faster claims reporting with 4.8/5 average post-claim user rating
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability10 records

Feature4 records

Partnerships

One partnership is on record.

• Approved Telematics Service ProviderssupportingTechnology or IntegrationLEEO offers multiple telematics integration paths allowing fleets to connect existing approved telematics hardware or choose from LEEO's partner network of telematics service providers. Fleets can keep existing workflows with no disruption or get equipped with LEEO-ready hardware from partners.

Scale indicators3 records

Recent moves5 records

Expansion highlights6 records

Emerging players

• Samsara: Samsara is a leading fleet telematics and operations platform used by commercial fleets. While not an insurer, it increasingly partners with carriers on usage-based insurance products and represents both an enabling technology provider and a potential distribution/data partner for LEEO.
• Lytx: Lytx is a video telematics provider for commercial fleets, with dashcam-based driving analytics. LEEO's camera-led telematics platform overlaps with Lytx's video-driven safety approach, and Lytx data is often integrated into commercial auto underwriting programs.
• Geotab: Geotab is a major fleet telematics platform providing hardware and data to commercial fleets and their insurance partners. It is comparable as a telematics data source enabling insurance underwriting and as an ecosystem participant for telematics-based commercial auto products.

Direct peers

• NEXT Insurance: NEXT Insurance is a digital-first small commercial insurance carrier covering commercial auto among other lines, with a tech-led underwriting approach. It is comparable to LEEO through its use of data-driven underwriting and digital broker/agent experience in commercial lines.
• Canal Insurance Company: Canal Insurance is a specialty commercial auto carrier focused on light commercial and niche fleet segments through independent agents. It competes with LEEO for the same light commercial auto and artisan business via broker distribution.
• Cover Whale Insurance Solutions: Cover Whale is a tech-enabled commercial auto insurance MGA focused on trucking and commercial fleets. It shares LEEO's core MGA distribution model and telematics-driven underwriting approach, making it the most direct competitor in the commercial auto insurtech space.
• Knight Insurance Group: Knight Insurance is a specialty commercial auto MGA writing through appointed agents across multiple commercial auto segments. It is a direct peer given shared MGA model and commercial auto focus, though it relies less heavily on telematics-driven underwriting than LEEO.

Broad incumbents

• Motorsport Insurance & Financial Services (Berkshire Hathaway Homestate Companies): BHH-affiliated carriers provide commercial auto among broader commercial lines. They serve as a benchmark incumbent for the broker channel and represent the type of established competitor LEEO must displace to grow share.
• Progressive Commercial: Progressive Commercial is the dominant incumbent commercial auto writer in the U.S., distributing through independent agents and direct. It competes broadly with LEEO across all commercial fleet segments but offers a much wider portfolio beyond commercial auto.
• Berkshire Hathaway GUARD Insurance Companies: GUARD is a Berkshire Hathaway commercial lines carrier writing commercial auto among other lines through independent agents. It overlaps with LEEO in the broker-distributed commercial auto segment and serves similar small/mid-market fleet customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/leeoinsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LEEO Insurance Services, LLC