FinTech Global named Loadsure to its InsurTech 100 list; a list that acknowledges those innovators leading the global insurance market’s digital transformation. Chosen by a panel of analysts and industry experts from a long list of more than 1,200 companies, Loadsure was recognized for delivering the North American transportation industry’s first fully digital, pay-as-you-go cargo insurance solution.
“As the transportation industry now braces for the holiday capacity crunch, seasonal spikes in cargo theft, and rising rates of COVID infection, it will again encounter a period of increased risk and opportunity,” said Loadsure CEO, Johnny McCord. “We’re excited to be a part of this evolution, knowing that digitalization and automation can be put to work for people, helping them protect the sustainability of their businesses. It’s an honor to be recognized for our work and named to the InsurTech 100 list.”
Loadsure’s entrance into the cargo insurance market was exceptionally well-timed. This spring and summer, as brokers, shippers, and carriers strained to meet skyrocketing COVID-driven demand, preserve cash flow, and manage increasing risk exposure, the pandemic revealed vulnerabilities in traditional insurance; it lacked the efficiency and effectiveness necessary to respond to massive disruption.
Loadsure, however, leveraged automation, predictive analytics, and a highly flexible platform to rapidly respond to changing environments and deliver pay-as-you-go, all-risk coverage when the industry needed it most. As a result, transportation industry professionals were—and are—empowered to cost-effectively manage spot freight risk in real-time.
Loadsure recognizes that providing real-time coverage is only one part of the equation. It also takes an innovative approach to claims. Driven by automation, its fully digital claims submission process and online discussion forum expedite settlements, often depositing full value payments directly into insureds’ bank accounts in minutes, as opposed to weeks or even months. As small freight industry businesses struggle to remain afloat in uncertain economic times, rapid restoration of their cash flow is mission-critical.