Loadsure, an international insurtech managing general agent (MGA) and Lloyd’s coverholder, announces its launch in Europe.
With an initial focus on the Benelux region, Germany, France, Denmark, Norway, Finland and Sweden, the company aims to use high resolution data, AI and automation to provide accurately priced freight insurance and insight products.
Ben Brough has joined as director of Europe, and Loadsure plans to expand the European team this year.
Following a phased launch across Europe, all of Loadsure’s freight insurance products will be available to insurance intermediaries throughout the region, including Thames (dynamic on-demand cargo insurance), Huron (ocean cargo and stock throughput insurance) and Danube (dynamic ocean cargo insurance).
According to the firm, its presence in Europe helps cover broad risk exposure for freight brokers, shippers and carriers, especially small-to-medium-sized businesses underserved by the insurance industry on the continent.
The company states that Loadsure’s arrival will address a number of issues faced by European freight service and logistics providers, for example, using real-time data collection to provide risk insights on observed loss trends such as theft hotspots.
Johnny McCord, Loadsure CEO and co-founder, comments: “The freight industry is being transformed by digitalisation and we look forward to working closely with local distribution partners to deliver the leading edge, tech-powered solutions the freight community demands.”
Brough adds: “The freight and logistics sectors in Europe play a vital role in facilitating trade and maintaining the smooth flow of goods. But they face a difficult supply chain environment exacerbated by the war in Ukraine, Covid-19 and Brexit.
“Streamlining processes and investing in digital solutions are critical to dealing with these issues. At Loadsure, we enable our clients to enhance their risk management practices, protect their financial interests, and navigate the challenges of the industry more effectively.”
