Markets/Coverages: Loadsure Launches Motor Truck Cargo Insurance

Loadsure, the London-based insurtech MGA, announced the launch of motor truck cargo insurance, a data-powered insurance product, purpose-built for the logistics community.

Called “Columbia™ – Motor Truck Cargo and Logistics Services Insurance,” the product targets SME enterprises and will provide coverage that protects motor carriers, freight brokers, and freight forwarders against damage to cargo. Supplemental coverages in addition to the main insurance agreement include business personal property, contingent coverage, contractual penalties, debris removal, extra expense, freight charges and shipping containers.

Harnessing data and digital technology, Columbia empowers wholesale insurance brokers to efficiently quote and secure coverage through dynamic quote, bind and policy generation. Brokers will have access to quick and easy digital quoting alongside fair, sustainable pricing through data-powered, risk specific underwriting, dynamic document generation and data transparency.

“Columbia is yet another example of the importance of data-driven solutions in moving insurance forward and closing the protection gap among SMEs in the cargo and freight space,” commented Loadsure CEO and founder Johnny McCord in a statement.

Columbia empowers brokers “to better serve cargo outfits seeking long-term partnerships and the solutions needed to support their businesses,” he added.

Loadsure, the international managing general agent (MGA) and Lloyd’s coverholder, leverages AI and automation to provide an industry-first pay-as-you-go, digital insurance for brokers, shippers, and carriers. Transactional coverage is automated—or secured in less than 40 seconds—with claims resolved in minutes.

Source: Loadsure

Topics Auto New Markets Trucking