Amwins Specialty Logistics Underwriters (ASLU) has partnered with managing general agent Loadsure to provide per-load cargo insurance to the US freight industry. With the partnership, the agency’s logistics and cargo partners can access pay-as-you-go, all-risk coverage that includes automated claims, on a platform that takes only 40 seconds to secure coverage.
“Millions of uninsured and underinsured spot freight loads are currently being transported across the US,” said Johnny McCord, CEO of Loadsure. “In part, that’s because the insurance industry has historically underwritten low-complexity risk through labor-intensive processes, making it prohibitively expensive to acquire – often costing freight brokers and carriers lucrative loads on the spot market. Through automation and machine learning, we’re driving a long-overdue evolution.”
Loadsure digitalizes the full cargo insurance lifecycle, from premium pricing to claims payment delivery, allowing it to eliminate excess costs associated with traditional underwriting and claims processing. Loadsure’s capabilities will help Amwins clients cut transactional costs by up to 80%, the company said.
“We pride ourselves on our client-focused approach to comprehensive coverage, but that same model didn’t work to support transactional insurance needs,” said Alex Rosas, executive vice president at ASLU. “Loadsure bridges the gap with a user-friendly solution that empowers our clients to get the per-load coverage they need.”
