Case Study: Loadsure streamlines cargo insurance underwriting with Concirrus

Loadsure accelerates cargo underwriting in real time with Concirrus

Loadsure, a digital MGA providing automated insurance to the North American spot freight market, faced challenges common in the cargo insurance sector, including time-critical pressures, high loss ratios, and an inability to fully utilize vast amounts of available data. To address these issues and offer sustainable, scalable pricing, Loadsure partnered with vendor Concirrus and integrated its Quest Marine Cargo platform.

By utilizing Concirrus' analytics and machine learning algorithms, Loadsure automated underwriting outcomes in real-time, enabling a direct-to-consumer, on-demand approach. This solution provided sustainable and profitable underwriting, simplified the complex transactional placement model, and ensured a fair price for both the customer and the insurer. The success of this approach was recognized when Loadsure was accepted into the Lloyd’s Lab 2020 cohort.

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