Kleinschmidt Will Be First to Deliver One-Click Loadsure Cargo Insurance to the U.S.
BROKERS AND CARRIERS CAN INSTANTLY ADDRESS INCREASING SPOT FREIGHT RISK AS COVID PUSHES MORE MARKET DEMAND
LONDON – June 9, 2020 – Loadsure today announced it has partnered with B2B integration provider, Kleinschmidt to deliver one-click, pay-as-you-go cargo insurance through FreightLaunch, Kleinschmidt’s new digital freight enablement platform. In doing so, Loadsure’s end-to-end digital insurance solution will enable brokers and carriers to add wrap-around coverage to spot or contract freight in real-time, while also accelerating claim settlements from weeks—or even months—to just minutes.
“Kleinschmidt has long been a pioneer in the freight transportation technology space, and they share our passion for delivering value to the industry,” says Loadsure CEO, Johnny McCord. “Now, as brokers and carriers admirably respond to pressing challenges in the face of COVID-19, we see even greater value in our partnership with one of the industry’s most well-respected brands. Addressing risk exposure—a once painful, time-consuming task that could cost a broker or carrier the load—will become a simple part of their load securement workflow.”
Thousands of loads have historically been transported across the U.S. every year without sufficient insurance coverage, exposing brokers and carriers to liability. The COVID pandemic has exacerbated the risk: FMCSA has extended emergency declarations, and drivers are working longer hours and under greater strain, as a result. Meanwhile, COVID-driven demand has exceeded the capacity of contractual logistics—and overflow freight is hitting the spot market where brokers may tap carriers that have not been well-vetted.
Through Kleinschmidt’s platform, brokers and carriers utilizing the FreightLaunch application to meet EDI compliance standards will not only be able to accept, update, and invoice loads from shippers, but they’ll also be able to add on-demand, per-load cargo insurance with the simple click of a button.
“We’ve historically delivered added-value to our customers and users through innovative technology partnerships,” said Phil Johnson, Director of Marketing at Kleinschmidt. “That’s why we’re excited to partner with Loadsure. We share a commitment to simplifying the complex so that businesses can thrive, especially in a time when saving money and preserving cash flow are mission-critical. By integrating Loadsure’s data-driven, end-to-end digital solution into our FreightLaunch platform, users have a one-stop shop for improving the overall freight process: We’re offering carriers and brokers the opportunity to cut insurance costs and accelerate claim settlements while concurrently meeting the EDI requirements of their customers.”
For more information, visit loadsure.net.
Loadsure is an international Insurtech Managing General Agent (MGA), and its eyes are set on revitalizing the freight spot market with exciting new technology. With an innovative digital product, it takes the lead, fueling growth and driving diversification within the market. Loadsure’s fully digital end-to-end, cloud-based insurance solution leverages predictive analytics and cutting-edge tech stack to provide the spot freight community with a full-service insurtech solution, integrated with leading digital transportation management platforms. Visit loadsure.net.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NYSE: ARGO), is an underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo Group’s insurance subsidiaries are A.M. Best–rated “A-” (Excellent), and Argo Group’s U.S. insurance subsidiaries are Standard and Poor’s–rated “A-” (Strong). More information on Argo Group and its subsidiaries is available at argolimited.com.
T: +44 (0) 208-2803-133
M: +44 (0) 7776 175503