How freight brokers are easily protecting shippers from loss

Tags /

  • Business
  • Freight Protection
  • Insurance

When you’re a freight broker, relationships are everything. Want to succeed? Then you need to demonstrate you can be trusted to get your client’s valuable shipments from Point A to Point B quickly, safely, and affordably—over and over again.

Unfortunately, no matter how thoroughly you vet your carriers, things can and will go horribly wrong on occasion. And, when they do, fighting with your carrier on a legitimate claim not only hurts your client’s business, it hurts your reputation.

We spoke with Regiment Logistics COO, Patrick O’Loughlin about this, and his frustration was evident. Not only was it difficult for some businesses to weather long, drawn-out claims settlement processes, but carriers were also only paying out on deserving claims 50% of the time.

“As a third-party logistics provider, that hurt me, too,” said Patrick. “Our clients were relying on me for a shipping experience they could count on.”

The challenges freight brokers, like Patrick, experience are clear. Growing a business requires some serious hustle, and it can be painful to push the carriers you need for future capacity when they’re slow to respond to claims—or refuse claims altogether.

So, when we were in a position to offer a simple, painless path forward, we didn’t want to wait.

Get immediate access to instant peace-of-mind

You may have already heard that we’re bringing one-click, per-load cargo insurance and accelerated claims to your favorite load boards, freight marketplaces, and TMS’s.

We’re excited by the idea of not only making this coverage widely accessible but, by embedding it within your existing workflows, making the work of protecting shipments faster and easier, too.

While you wait for those partner integrations to launch, however, we have a bit of news.

Our CTO, Damith, has completed the build of our new platform and we’ve decided to add a few freight broker accounts—giving you immediate access to the best rates and broadest coverage available.

What does this mean for you and the shippers you serve?

For starters, you won’t lose out on lucrative spot market loads for want of insurance.

“It’s actually kind of crazy how easy it is to buy a certificate,” says Patrick. “It blows my mind—I can acquire insurance in 5, 10 seconds.”

You’ll also be empowered to deliver value-added service to your shippers, helping them easily and affordably manage their risk. In fact, in less than a minute, you can secure wrap-around coverage that pays full invoice value for the same or even less than what you’d pay for spike and gap coverage.

Even better, our automated solution accelerates claims from an average of 120 days to often just minutes—with an immediate disbursement of settlement payouts.

How do we do it?

Traditional insurance processes are labor-intensive—and that adds unnecessary time and expense to transactional business, like per-load cargo coverage. It’s why pay-as-you-go insurance was out-of-reach for many, until now.

We, however, leverage AI and predictive analytics to do the heavy lifting for us—dynamically underwriting risk in real-time. And, because our end-to-end processes are fully digital, we enable the real-time delivery of quotes and coverage, while also minimizing underwriting expenses.

In fact, by eliminating traditional, people-powered processes, we can cut the cost of per-load insurance by as much as 80%.

So, if you’d like to jump in early and get direct access to our all-risk, per-load coverage and accelerated claims, sign-up now. We’ll get you set-up and ready to go within just 48 hours.