Loadsure launches data-driven insurance for logistics SMEs

Insurtech managing general agent (MGA) Loadsure has launched a motor truck cargo and logistics services insurance.

The data-powered product, entitled Columbia, will target small and medium-sized businesses (SMEs) in the logistics sector.

The MGA explained it would protect motor carriers, freight brokers and freight forwarders against damage to cargo.

Additional cover to the main insurance will also include business personal property, contingent coverage, contractual penalties, debris removal, extra expense, freight charges and shipping containers.

Johnny McCord, chief executive and founder of Loadsure, said: “Columbia is yet another example of the importance of data-driven solutions in moving insurance forward and closing the protection gap among SMEs in the cargo and freight space.”

Data driven

According to the MGA, brokers will have access to quick and easy digital quoting along with “fair, sustainable pricing through data-powered, risk specific underwriting, dynamic document generation and data transparency.”

“Harnessing data and digital technology, Columbia empowers wholesale insurance brokers to efficiently quote and secure coverage through dynamic quote, bind and policy generation,” added Loadsure.

McCord said: “Backed by our industry leading expertise, Columbia will empower brokers to better serve cargo outfits seeking long-term partnerships and the solutions needed to support their businesses.”