Loadsure, an international InsurTech managing general agent (MGA) and Lloyd’s coverholder, has launched into the European market.
The company is set to primarily focus on the Benelux region, Germany, France, Denmark, Norway, Finland, and Sweden, according to the Captive Insurance Times.
Leveraging high-resolution data, AI, and automation, Loadsure aims to revolutionise the provision of accurately priced freight insurance and insight products.
As part of its European expansion, Loadsure has appointed Ben Brough as director of Europe. Additionally, the company plans to bolster its European team throughout the year.
With a phased rollout across Europe, Loadsure will offer its freight insurance products to insurance intermediaries across the region.
These products include Thames (dynamic on-demand cargo insurance), Huron (ocean cargo and stock throughput insurance), and Danube (dynamic ocean cargo insurance).
Loadsure’s entry into the European market addresses a critical need, particularly for small-to-medium-sized businesses in the freight industry.
The company’s presence aims to provide comprehensive coverage for freight brokers, shippers, and carriers, filling a gap in the market for those underserved by the traditional insurance industry.
Johnny McCord, Loadsure CEO and co-founder, expressed excitement about the company’s role in transforming the freight industry through digitalisation. He said, “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.”
Ben Brough, Director of Europe at Loadsure, added, “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.”
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