- Freight Protection
Industry: Freight Services
Company: GMG Transwest Corp.
A leading freight services firm
Long Island-based GMG Transwest is the go-to freight services provider for shippers that need to move complicated LTL and FTL loads. From perishable goods to cases of wine and other fragile cargo, GMG Transwest can get specialty loads from A to B quickly and safely.
With assets including two warehouses, sophisticated inventory management tech and threat mitigation, this is a freight forwarding and brokerage firm with a rock-solid reputation.
- Instant freight protection up to $500K
- Simple automated claims process
- Claims settled 80% faster
- Exceptional service
Protecting against unexpected risk
GMG Transwest has tried everything to identify and mitigate risk – including carrying contingency cargo, errors and omissions, and warehouseman’s coverage. But like others in the industry, the company has still been bitten by unexpected policy loopholes.
As president, John Coviello says, “Experience is the best teacher. Unfortunately, it’s always an expensive lesson to uncover a new way we can get harmed.”
Before dispatching a load, GMG Transwest checks certificates for complete carrier coverage are in place, and the insurance is valid. But even these measures can’t protect them from the occasional snag:
- A load is re-brokered without company knowledge, and shipped under or uninsured.
- Carrier coverage is suspended in transit, when the carrier fails to pay for it.
- A carrier without coverage for physical damage requires an expensive tow, and GMG’s load is held as collateral until the carrier pays the bill.
In the past, GMG Transwest has purchased all-risk coverage through its load board, but with a cap at $100,000, this solution proved insufficient. The company had to find a way to cover high-value loads and protect against risk exposure, fast.
Fast freight protection for high-value loads
“We did some inquiring as to where we could go,” says Coviello. “That brought us to Loadsure.”
During due diligence, GMG Transwest found that Loadsure’s AI-powered cargo insurance solution was not only fast and easy to use, but could also offer domestic coverage of up to $500,000 – a clear advantage.
Soon enough, the firm was faced with transporting a high-value load consisting of expensive televisions, and the shipper requested higher limit coverage. That’s when GMG Transwest decided to take Loadsure for a spin.
The experience – from onboarding to claim settlement – proved Loadsure’s
Accelerated claims processing
Acquiring coverage couldn’t have been easier. Coviello says:
“It’s great coverage, very affordable, and easy to use. A no-brainer. As I like to say, ‘it’s first-grade math’.”
– John Caviello, President, GMG Transwest
Despite GMG Transwest’s low record of claims – which the company takes great pride in – thirty-one TVs in three separate loads were rejected by the receiver.
The TVs themselves arrived in perfect shape, but there were wrinkles on the packaging, and the receiver insisted on sealed boxes in pristine condition.
While the shipper loaded the electronics, and the receiver at an outside warehouse was responsible for unloading, it was GMG Transwest that got lumbered with the claims.
So, what did Caviello think about the claims experience with Loadsure?
“I’ve never dealt with nicer insurance people than at Loadsure.”
“It was quite easy and quick. You put in your certificate number and it pulls in all of the information. Then it spoon-feeds you the process, step-by-step. It simplifies things, and it lessens the chance of error. There are no handwritten documents or handwritten claims – everything goes into the portal.”
– John Caviello, President, GMG Transwest
Despite the unusual circumstances and high-value claim, the entire process was fast – from claims submission right through to payment.
“Claims like this typically take two to three months, but it only took two weeks with Loadsure.”
When asked if he would recommend Loadsure to others in the freight industry, Caviello says, “I already have. So, the answer to that is absolutely, yes. No matter how many checks you have in place, no matter how many systems you utilize, there’s still a loophole you may not have seen.”
- Straightforward, paper-free claims process in one centralized portal
- Unparalleled customer service from an expert team
- Instant freight protection for high-value loads up to $500K
- Claims are settled and paid up to 80% faster
- GMG Transwest can now protect against unexpected risk