Insurtech managing general agent (MGA), Loadsure has launched a Motor Truck Cargo Insurance product powered by data and built for the logistics community.
Named Columbia™- Motor Truck Cargo and Logistics Services Insurance, Loadsure’s new product aims to provide market-leading coverage, protecting motor carriers, freight brokers, and freight forwarders against cargo damage.
In addition to the main insurance agreement, it will also include business personal property, contingent coverage, contractual penalties, waste removal, additional costs, freight charges and shipping containers.
By leveraging data and digital technology, Columbia™ will empower wholesale insurance brokers to effectively quote and secure coverage through dynamic quote, bind and policy generation, the insurtech said.
Brokers 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.
Loadsure’s CEO and founder Johnny McCord said: “Columbia™ is another example of the importance of data-driven solutions in advancing insurance and closing the protection gap for SMEs in the cargo and freight space .
“Backed by our industry-leading expertise, Columbia™ will empower brokers to better serve freight forwarders seeking the long-term partnerships and solutions needed to support their businesses.”