Loadsure provides data-priced cargo insurance products that utilize real-time data and automated claims processing to deliver accurate coverage for freight shipments. The platform addresses the issue of underinsurance in the logistics industry by enabling brokers, shippers, and carriers to obtain per-load insurance certificates in under 40 seconds.
Funding
$21.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The freight industry faces significant underinsurance issues, leaving brokers, shippers, and carriers vulnerable to financial losses from damaged or lost cargo. Traditional cargo insurance often involves lengthy processes and may not accurately reflect the real-time risks associated with individual shipments. This can lead to inadequate coverage and delayed claims processing, hindering efficient supply chain operations.
Solution
Loadsure offers data-driven cargo insurance products that provide accurate, on-demand coverage for freight shipments, addressing the problem of underinsurance in the logistics sector. The platform leverages real-time data and automated claims processing to enable brokers, shippers, and carriers to quickly obtain per-load insurance certificates. By using a dynamic pricing model, Loadsure marries individual risk profiles with cost, offering affordable and comprehensive protection. The company's technology integrates seamlessly with existing systems, providing actionable risk insights and efficient claims handling, minimizing wait times for payouts and reducing the risk of further losses.
Target Audience
Loadsure's primary customers include freight brokers, shippers, and carriers of all sizes seeking flexible, accurately priced cargo insurance and efficient claims processing.
Features
- Per-load cargo insurance certificates obtainable in under 40 seconds
- Dynamic pricing model using real-time data to accurately price policies
- Automated claims processing for fast payouts, averaging around 3 days
- Actionable risk insights to help customers actively avoid loss
- Diverse product catalog including stock throughput, shipper’s interest, and motor truck cargo insurance
- Integration with existing systems via API
- Transparent claims status visibility for assureds