“Informal marketplaces are vulnerable, lacking insurance protection for customers, and that was true of the spot freight market, until now”
With the backing of insurtech incubator and fund, Insurtech Gateway, and other investors, Loadsure will market the transportation industry’s easiest one-click insurance integration to loadboard, freight marketplace, and transportation management system platforms in the U.S. A remarkably simple solution, Loadsure helps transportation and logistics companies address the millions of uninsured or underinsured freight tons shipped in the U.S. each year.
“Spot Freight industry is a huge market with a complex value chain where a significant volume is not insured or is underinsured,” said Convex chairman and CEO, and Loadsure advisor, Stephen Catlin. “The digital end-to-end solution created by Loadsure is impressive, as is the scope of their ambition.”
Just as Uber and Lyft harnessed real-time data and a fully automated digital process to revolutionize the taxi industry, the transportation insurance industry is similarly primed for evolution. Insurtech Gateway recognizes that Loadsure, a Lloyd’s coverholder who knows this space inside-and-out, is poised to lead the charge, and it’s delivering the funding and expertise necessary to help Loadsure accelerate the adoption of its one-click insurtech solution.
“Insurtech Gateway has given us the confidence and support network to achieve our goals as we take Loadsure to the next level,” said Loadsure founder and CEO, Johnny McCord. “We now have a broader set of experts behind us to help navigate the rocks that founder many startups. Their subtle but supportive approach with Loadsure has been massively appreciated.”
“Informal marketplaces are vulnerable, lacking insurance protection for customers, and that was true of the spot freight market, until now,” said Insurtech Gateway co-founder, Robert Lumley. “Loadsure really impressed us with their plan to be at the leading edge of this rapidly modernising sector.”