Insurtech MGA Loadsure Partners With WeatherOptics to Boost Cargo Risk Calculations

September 27, 2023

Loadsure, the London-based insurtech and managing general agent, has partnered with WeatherOptics, a leading weather intelligence platform, with the aim of bringing weather intelligence into its risk calculations.

Loadsure directly addresses the global freight underinsurance crisis with data powered, AI-priced, cargo protection. By utilizing WeatherOptics’ technology, Loadsure will enhance the resolution of their rating algorithm, providing further improvements in speed of service and efficacy of coverage.

“Loadsure always strives to be at the cutting edge of freight insurance technology, and partnering with WeatherOptics enables us to expand into a new field of protection and coverage, helping businesses to better understand and insure weather-related disruptions like delays of critical shipments, temperature breaches for sensitive freight, and warehouse disruptions,” commented Johnny McCord, Loadsure CEO and founder.

Pay-As-You-Go Cargo MGA Closing Insurance Protection Gap for Shippers

“Our integration with WeatherOptics will further enhance our capacity for business-saving protection for SMEs – we look forward to collaborating,” he added.

WeatherOptics translates weather data into actionable insights for logistics companies, providing predictive intelligence as a risk score or delay time that allow businesses to easily understand how upcoming weather will affect their operations. These insights help predict and mitigate uncertainties like trucking delays, warehouse disruptions, and driver risk due to weather.

“WeatherOptics insights are designed to predict potential risks to supply chain and logistics operations by combining weather modeling with industry-specific data points like geospatial variables, telematics data, and power outage reports. This allows us to deliver granular insights on exactly how actual business operations will be affected by upcoming storms. We’re excited to partner with Loadsure to bring these insights to more shippers, carriers, and brokers,” said Scott Pecoriello, co-founder and CEO of New York City-based WeatherOptics.

About Loadsure

An international insurtech MGA and Lloyd’s coverholder, Loadsure leverages high resolution data and AI to analyze risk and provide fully digital insurance, insight and freight protection products. Loadsure can integrate seamlessly into insurance intermediary workflows and embeds into freight industry transportation management systems (TMS) and load boards, and can be accessed directly via a web portal. Insurance certificates can be secured in under 60 seconds, with claims resolved in minutes.

About WeatherOptics

WeatherOptics is a leader in the weather intelligence space, providing companies with insights and forecasts that eliminate guesswork and improve visibility of key business operations.

Source: Loadsure

Topics InsurTech Tech Insurance Wholesale Trucking

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