Loadsure Market Research Report



Company Overview


Name


Loadsure Ltd.

Mission of the Company


Loadsure's mission is to revolutionize the global freight insurance industry with data-driven, AI-powered solutions that address the global underinsurance crisis.

Foundation


  • Founded: November 2018

  • Founder: Johnny McCord


Key People


  • Johnny McCord: CEO & Founder

  • Jim Heide: COO & Co-Founder

  • Ben Brough: Director of Europe

  • Taylor Walker: CIO

  • Joe Walker: EVP of Marketing


Headquarters


  • Location: 71 Queen Victoria Street, London, England, EC4V 4BE


Number of Employees


No information is available.

Revenue


No information is available.

Known For


Loadsure is known for its cutting-edge InsurTech solutions that provide AI-priced, real-time auto-adjudicated freight insurance.

Products


Thames™


  • Type: Dynamic, On-Demand Cargo Insurance

  • Description: Provides all-risk coverage on a per-load basis, eliminating the need for expensive annualized policies.

  • Key Features: Dynamic pricing, instant insurance certificate issuance, accessible via online platform or API.


Danube™


  • Type: Dynamic Ocean Cargo Insurance

  • Description: Annualized ocean cargo insurance with flexible policy premiums.

  • Key Features: Accurate quotes almost instantly, digitized intake, competitive premiums.


Huron™


  • Type: Ocean Cargo and Stock Throughput Insurance

  • Description: Comprehensive coverage for goods in transit and storage without minimum premiums.

  • Key Features: Competitive premiums, dynamic rating model, instant quote generation.


Columbia™


  • Type: Motor Truck Cargo & Logistics Services Insurance

  • Description: Protects motor carriers, freight brokers, and forwarders against cargo damage.

  • Key Features: Dynamic pricing, fast quote issuance, supplemental coverages.


Orinoco™


  • Type: Dynamic Shipper’s Interest Insurance

  • Description: Provides first-party coverage that exceeds the limitations of carrier liability policies.

  • Key Features: Custom rating model, instant insurance certificate issuance, real-time visibility on account performance.


Recent Developments


2024


  • European Expansion: Loadsure launched its products into the European market with initial operations focusing on Benelux region, Germany, France, Denmark, Norway, Finland, and Sweden.

  • New Partnership: Loadsure further expanded underwriting authority with backing from Tokio Marine Kiln.


2023


  • Platform Enhancements: Improved user-level permissions for better visibility and management of accounts.

  • Series A Funding: Secured $11 million, demonstrating significant market demand for its technology.


2022


  • Two New Product Launches: Released dynamic ocean cargo and stock throughput insurance.

  • Major Agreement: Loadsure agreed to a commercial deal with Amwins, the largest wholesaler in North America.


2020


  • Partner Portal Launch: Enabled near-instant access to risk coverage for the freight community.





Technology and Impact


Loadsure's technology, powered by AI and high-resolution data analysis, facilitates:
  • Dynamic Pricing: Accurate and competitive premiums.

  • Fast Claims: Automated process for near real-time settlements.

  • Seamless Integration: Easy API integration into existing systems.

  • Fuss-Free Claims: Smooth data collection and faster payouts.


Market Positioning


Loadsure differentiates itself by offering holistic freight protection via dynamic, data-driven risk management. This approach is particularly beneficial in lifting underserved segments like SMBs which find traditional insurance cost-prohibitive.

Industry Recognitions


Loadsure has received multiple awards and accolades, including:
  • 2023 SME Finance Awards: Best Cargo & Freight Insurance Broker (Winner)

  • 2022 National Insurance Awards: Shortlisted for various categories


Conclusion


Loadsure represents a significant shift in freight insurance, leveraging advanced technology to provide efficient, real-time solutions tailored to the needs of modern supply chains. By addressing the market's longstanding pain points, Loadsure continues to establish itself as a leader in the InsurTech space.