Loadsure enhances freight offering with Tokio Marine Kiln capacity backing
Wednesday, January 4, 2023
LONDON – January 04, 2023 - Insurtech MGA Loadsure today announced that it has received capacity backing from leading specialist international insurer Tokio Marine Kiln (“TMK”) to further enhance its data driven freight protection offering.
This collaboration is part of a broader approach undertaken by TMK as they look to drive digital innovation and modernisation within the market. Core to TMK’s principles, this partnership aims to develop a framework that will enable Loadsure to further expand its platform capabilities, supported commodities and geographic outreach, as well as promote the development of its overall growth strategy.
Loadsure was founded in 2018 and is the industry’s first digital-native insurtech MGA and Lloyd’s coverholder. It directly addresses the freight underinsurance crisis with data powered, AI-priced, on demand cargo cover. This new backing comes at a time of significant growth for Loadsure after having closed a $11 million Series A funding round in early 2022.
Johnny McCord, CEO, Loadsure commented: “We are excited that such a renowned carrier as TMK is partnering with us as a lead capacity provider; a clear endorsement of our strategy and innovative offering. TMK’s progressive underwriting approach and outlook on the future of our market dovetail neatly with our own. We look forward to working together on the opportunities TMK’s support makes increasingly possible.”
Richard Hooks, Departmental Head of Marine & Energy at TMK added: “TMK is at the forefront of providing practical insurance products that address existing and emerging risks. We partner with a wide range of organisations, including insurtechs, academic institutions and businesses, to harness expertise and help clients transfer risks, fulfil ambitions and navigate change.
“Loadsure’s dynamic and integrated platform is an example of an agile programme that supplies cost-effective, flexible insurance. As the market evolves and modernises, we are committed to supporting ventures like this.”
Tel.: +44 207 562 4444
Loadsure, an international Insurtech Managing General Agent (MGA) and Lloyd’s coverholder, leverages AI and automation to provide an industry first pay-as-you-go, digital insurance for brokers, shippers, and carriers. Through Loadsure.net and leading TMS platforms, transactional coverage can be automated—or secured in less than 40 seconds—with claims resolved in minutes. Visit loadsure.net.
Tokio Marine Kiln (TMK) is a leading specialist insurance underwriting business and part of one of the world’s largest insurance groups. With 60 years’ experience of addressing complex and ever-changing risks, it provides clients with the stability and strength to fulfil their ambitions. TMK has five specialist underwriting divisions operating in the UK, US and Asia focused on Property & Motor; Liability; Specialty; Aviation; and Marine and Energy risks, which are complemented by an outstanding Claims service and a reputation for insurance innovation. Visit www.tmkiln.com
Tokio Marine Kiln establishes standalone Cyber & Enterprise Risk division to support ambitions
05 June 2023
Tokio Marine Kiln has established a standalone Cyber & Enterprise Risk division as part of its effort to expand its presence in the cyber market.
New financial product to protect intangible assets
23 May 2023
WTW is introducing Intangible Asset Protection (IAP), a first-of-its-kind product to fill a coverage gap in the market. The product will be underwritten by Tokio Marine Kiln.
Will Green joins Tokio Marine Kiln to head up aviation war risks
06 March 2023
Tokio Marine Kiln (TMK) today announces the appointment of Will Green as Divisional Head of War within its Aviation underwriting team.