Redwood Logistics recently announced a partnership with Loadsure, an on-demand, all-risk cargo load insurance platform. Powered by automation and machine learning, this end-to-end digital insurance solution can be made available to shippers through RedwoodConnect, Redwood’s flagship supply chain integration platform-as-a-service (iPaaS) platform.
Loadsure, an international Insurtech Managing General Agent (MGA) and Lloyd’s coverholder, provides on-demand per-load insurance for shippers and carriers to cost-effectively manage their risk exposure with a single click, as well as resolve claims settlement within minutes.
“Redwood manages over $3.5 billion in Freight Under Management and this partnership provides a great opportunity to help our customers protect and insure that valuable freight cargo inside the Redwood platform,” said David Rowe, Chief Operating Officer, Redwood Logistics. “Enabling our RedwoodConnect users to have access to the Loadsure product is yet another illustration on how we are using latest technologies and machine learning to deliver new and innovative solutions to our customers’ supply chains.”
RedwoodConnect connects disparate supply chain technologies, providing users with streamlined processes, easier workflows and data sharing amongst their teams. The addition of Loadsure to the platform gives users access to accurate, affordable, wrap-around coverage to better manage risk exposure. The platform fills a cargo insurance gap within the supply chain industry, simplifying the insurance shopping process and giving users immediate access to coverage.
“Millions of uninsured and underinsured loads are transported across North America every day, representing a huge liability and threat to a company’s cash flow,” said Johnny McCord, Founder and Chief Executive Officer, Loadsure. “In the face of massive economic disruption, we’re excited to partner with Redwood in helping thousands of shippers mitigate the risk exposure that’s inherent in carrier liability policies—all through their user-friendly technology platform.”
RedwoodConnect users can access the Loadsure module within the platform, set coverage selection rules and get immediate set-it-and-forget-it peace of mind. For more information, please visit the RedwoodConnect service page.