- Freight Protection
LONDON – June 23, 2021 – Today, Loadsure announced the release of the industry’s first API solution for international, per-shipment cargo insurance and immediate access to coverage through the Loadsure platform. Now, the insurance industry is empowered to secure up to $2M in all-risk international coverage—no matter the mode—while also simplifying and accelerating claims.
“Underwriting low complexity, high-volume risk through traditional processes has long been an unprofitable proposition for the insurance underwriters and its brokers,” says Loadsure CEO, Johnny McCord. “Meanwhile, SMBs have been priced out of this business-critical risk management, forcing many to ship underinsured. Loadsure enables the insurance industry to profitably service this need, protecting the 90% of international shipments that are currently under and uninsured.”
Powered by AI and automation, Loadsure delivers not only dynamic pricing but products dynamically tailored to meet each shipment’s unique specifications in real-time. Now, brokers and retailers can easily meet the needs of just-in-time environments for a broad range of commodities, including frozen and chilled produce, alcoholic beverages, over-the-counter pharmaceuticals, and fireworks.
Loadsure’s digitalization of the insurance process extends to claims, as well. Offering a white glove claims experience, the platform reduces errors, delivers real-time claims statuses, accelerates claims settlements to days—even minutes—and delivers secure, near-instant payments to support rapid financial recovery.
“There’s no such thing as bad risk,” says McCord, “only bad terms and conditions. By leveraging AI and automation, Loadsure delivers the predictable, sustainable pricing insurance brokers and retailers need to service shipping risk on the fly. Whether through direct platform access or custom integrations, they can now efficiently and effectively service transactional business in a way that’s also highly scalable.”
Loadsure, an international Insurtech Managing General Agent (MGA) and Lloyd’s coverholder, leverages automation and machine learning to provide an industry first: pay-as-you-go, all-risk digital insurance for brokers, shippers, and carriers. Through Loadsure.net and leading TMS platforms, transactional coverage can be automated—or secured in less than 40 seconds—with claims resolved in minutes. Visit loadsure.net.