Loadsure on Thursday announced its partnership with Transship to enable international freight brokers to quickly obtain pay-as-you-go, wraparound cargo insurance.
Loadsure said that within moments, freight brokers will be able to protect perishable goods through the Transship platform and also accelerate claims processing from days or weeks to just minutes.
“We see real synergy in this partnership,” said Loadsure founder and CEO Johnny McCord. “We’re both harnessing automation to drive obsolete, tech-challenged industries into the digital age.
“Of course, this tech innovation is truly a means to an end. At the end of the day, we’re committed to helping people — and we know Transship shares in that commitment. Together we’re putting automation to work for brokers, helping them operate with greater agility, all while also cutting costs,” McCord said.
On its website, London-based Loadsure, founded in 2018, said it is “laser focused on simplifying spot freight cargo insurance through elegant cloud, mobile and big data technology applications.”
McCord told FreightWaves CEO Craig Fuller during FreightWaves LIVE @HOME in May that its solution enables shippers, carriers and brokers to purchase insurance policies on a per-load basis.
“Each policy is underwritten using technology,” he said. “Because there is no human cost involved with it, the price is true.”
Loadsure said in Thursday’s announcement that booking international shipments has historically been a complex, time-consuming and manual process and long frustrated brokers. Transship’s platform has dramatically simplified international logistics and reduced the time and expense associated with manual processes, it said.
Now, with the integration of Loadsure’s fully digital, end-to-end cargo insurance solution, Transship can deliver international freight brokers a one-stop-shop experience, Loadsure said. It added that not only can brokers book international shipments in as little as five minutes, they also can protect those shipments at competitive rates — and all within the existing user workflow.
Transship CEO Amit Hasak said, “Global shipment of perishable goods rules and regulations are tightening, while COVID-related complexities increase. Customers are actively seeking greater efficiency, cost reductions and risk management.”
Chicago-based Transship said its automated freight-forwarding platform covers everything needed for the international shipment of perishable goods.
“Leveraging our cutting-edge technologies with Loadsure, we are delivering a greater value and addressing the added risk posed by perishable shipments. We’re excited to partner with a company that, like us, recognizes the transformational power of automation in simplifying and protecting profitability,” Hasak said.
Before founding Transship in 2017, Hasak had worked in his family’s cold storage business in Chicago since 1999.
“Automation is the name of the game,” he told FreightWaves in October. “The food supply chain in particular relies very heavily on manual labor. Freight forwarding, for example, is basically done the same today as it has been for decades when arranging international shipments — needless and time-consuming telephone calls, emails and even faxes. This leads to inefficiencies that affect the food supply chain and also sustains the high cost of shipping.
“By introducing technologies such as application programming interface, blockchain and real-time tracking, startups such as Transship help reduce the cost of shipping, increase efficiency and introduce visibility. As a result, there is less food waste, the cost of food will be reduced and companies can invest more in business development rather than logistics,” Hasak said.
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Click for more FreightWaves/American Shipper articles by Kim Link-Wills.