“The supply chain has become so dramatically digitized. I felt there was a better way to distribute, underwrite and settle claims”, says Johnny.
With 19 years’ experience in the cargo and logistics insurance space, Johnny launched Loadsure in 2018.
Building a digital platform to enable end users and cargo owners to procure insurance at the click of a button, the portal allows Loadsure to underwrite in real time, using predictive analytics and machine learning.
Providing policy holders with the benefit of an instant purchase, embedded within their daily workflow, enables instant decision-making for a fast-paced industry and claims to be settled in near real time.
Johnny shares his thoughts on the future of the cargo and freight insurance market. “There’s a lot of noise out there. The market needs to be careful that we understand what the need for technology is and that we use the right tech to improve a process.”
Speaking about the opportunities for insurance talent, Johnny maintains that ,”Tech doesn’t just go and do the job. You have to teach it. We need subject-matter experts to build our product suite with us.”
Johnny says there’s a lot that’s different about working in insurtech. “Working in an agile process, it’s alien to a lot of people in the industry.”
He encourages us to bring ourselves up to speed with products and the value proposition. “Do your due diligence, make sure they’re well-funded. It’s not for the feint-hearted!”
The Insurance Coffee House Podcast is hosted by Nick Hoadley, CEO, Insurance Search, the Executive Search Consultancy for growing Insurance and Insurtech businesses across the globe.