Apollo, a Skyward Group company specialising in specialty insurance, and ZenHedge, a US-based InsurTech start-up, have partnered to launch a parametric solution protecting shippers from rising freight costs caused by trucking carrier tender rejections.
The offering, known as Freight Expense Insurance™, aims to safeguard shippers against unexpected cost increases, helping mitigate disruptions and uncertainty in supply chains.
ZenHedge’s platform analyses Transport Management System (TMS) data to model trucking lane risks and predict tender rejection events, enabling efficient, data-driven risk transfer. The product launches in the US, where trucking accounts for over 70% of national freight movement.
Apollo acts as a Lloyd’s-approved coverholder, providing underwriting expertise, market access, and support to scale the solution. Aon assists through its Reinsurance, Digital Economy Broking, and Delegated Authority teams in the US and London, helping bring the product to market.
Apollo class leader, innovation Hayley Budd said, “We are delighted to partner with ZenHedge and Aon to bring a truly innovative solution to one of the challenges in U.S. supply chains. Tender rejections create costly uncertainty for shippers of goods, and ZenHedge offers a practical, data-driven way to protect clients’ operations from such tender rejection events. This partnership reflects our commitment to supporting forward-thinking MGAs who are reshaping how risk is understood and insured, especially in global supply chains. We are excited about the scale and future potential this product and partnership represent.”
ZenHedge founder and CEO Krishnan Kandasamy said, “ZenHedge is proud to partner with Apollo and Aon, leaders in the insurance innovation space, to bring Freight Expense Insurance™ product to the U.S. market. For far too long, shippers have relied on a patchwork of digital freight technologies and trucking carrier relationships to manage freight transportation risks. Our product addresses an unmitigated insurance gap in the vital supply chain ecosystem.
“Apollo’s innovation team has had a successful track record of partnering with InsurTech startups in bringing breakthrough technologies, risk models, and underwriting capabilities to the insurance industry. Aon’s Reinsurance, broking, and delegated authority teams provide a seamless end-to-end platform for insurance startups like ZenHedge to succeed. We are grateful for the mentorship and support offered by Apollo and Aon and look forward to the immense potential of this breakthrough product and the opportunities it presents.”
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