Booking per-load insurance has historically been time-consuming and frustrating for motor carriers and freight brokers, who are forced to accept cumbersome processes, or expose businesses to risk with inadequate coverage.
Thanks to a new integration between freight insurance specialists Reliance Partners, insurtech pioneers Loadsure and TMS provider McLeod Software, the process has become quick, simple and frictionless. Asset-based motor carriers and freight brokers are now able to obtain A-rated all-risk Shipper’s Interest insurance on a per-load basis, within the McLeod ecosystem where they book their loads.
When McLeod users activate the “Logix Solution for Cargo Insurance” module, they have instant access to the streamlined process of buying supplemental cargo insurance. One click of a button submits order details. Within seconds, the system presents users with the tailored premium and deductible, complete with terms and conditions. If plans change and the need to cancel insurance arises, users can do so with just a few clicks.
“Traditional per-shipment quotes require you to click around several websites for third party providers and manually type out all the order details each time, just to get a quote. Our newest Logix Solution for Cargo Insurance software streamlines the entire process of buying supplemental cargo insurance,” said Ryan Sparrow, DocumentPower Product Manager with McLeod Software.
Users won’t only have access to an out-of-the-box module. They can also lock in rates for each commodity type for further automation and to avoid price fluctuations. They can get set up with locked-in quotes by contacting Reliance Partners.
“Reliance Partners has been pioneering usage-based insurance products specifically tailored for the freight industry for eight years now. For the past five years, it has been hyperfocused on Shipper’s Interest because of the growing need and demand,” said Mark Vickers, Executive Vice President and Head of International Logistics at Reliance Partners.
Shipper’s Interest insurance is important to close coverage gaps on shipments where carriers may limit their liability.
“Protecting our clients and their freight comes first at Sunset Transportation. Reliance Partners’ Shipper’s Interest insurance program has enabled us to provide our clients with all-risk coverage on high-value, LTL and even cross-border freight,” McLeod user John Sutton, Director of Corporate Support Sunset Transportation explains.
Jim Heide, co-founder of Loadsure added, “We founded Loadsure to bring data-powered, AI-priced insurance to the entire freight community; protecting supply chain businesses from loss, regardless of their size. Our partnership with Reliance empowers McLeod users to purchase cargo insurance in under a minute without leaving the TMS ecosystem; eliminating cumbersome processes and delivering valuable peace of mind.”
Motor carrier and freight brokers clients have tested the integration for the past year and it is proving to be an effective solution.
“Since integrating the automated Reliance Partners/Loadsure Shipper’s Interest portal with McLeod, our sales, operations and risk-management teams now work in sync and we now handle potentially higher risk freight with confidence,” Sutton said. “It’s great to see that McLeod, Reliance Partners and Loadsure have come together to create the Logix Solutions module for cargo insurance that you can now turn on in PowerBroker and LoadMaster.”
To access per-load insurance, contact Mark Vickers at mark.vickers@reliancepartners.com.
About Reliance Partners
Reliance Partners, founded in 2009, has rapidly become the fastest growing organic insurance agency in the US, witnessing an impressive surge from $95 million in 2018 to nearly $500 million in premiums today. Specializing in trucking and logistics, we serve approximately 10,000 motor carriers and 800 freight brokers, supported by a diverse team representing over 31 nationalities and 25 languages. Our commitment to innovation is evident through our cutting-edge technology disrupting traditional practices and our ambitious goals.
Visit reliancepartners.com
About Loadsure
Loadsure is an international InsurTech Managing General Agent (MGA) and Lloyd’s coverholder, leveraging high resolution data and AI to analyze risk and provide fully digital insurance, insight and freight protection products, through an intuitive software platform. Loadsure can integrate seamlessly into insurance intermediary workflows, embeds into freight industry TMSs and load boards, and can be accessed directly via web portal. There, insurance certificates can be secured in under 60 seconds, with claims resolved in minutes. This is holistic freight protection.
Visit loadsure.net
About McLeod Software
Companies who work with McLeod Software® gain a comprehensive transportation management solution to ensure they are running their businesses and managing capacity in the most efficient and effective ways possible. McLeod Software is the leading provider of ERP software for trucking, trucking brokerage and 3PL companies. Our integrated ERP solution includes financial management and accounting, dispatch operations, EDI, driver and HOS management, outside carrier management, business process automation, and document management, all specifically developed for trucking. We help our customers take their operations to the next level and improve their profitability while enabling growth.
Visit mcleodsoftware.com
The post Per-load shipper’s interest insurance now available in McLeod TMS appeared first on FreightWaves.
