“We are excited that such a renowned carrier … is partnering with us as a lead capacity provider – a clear endorsement of our strategy and innovative offering,” said Loadsure CEO Johnny McCord. “Tokio Marine Kiln’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 [its] support makes increasingly possible.”
Tokio Marine Kiln’s capacity backing comes at a time of significant growth for Loadsure, which closed an $11 million series A funding round earlier last year. It was founded in 2018 as the insurance industry’s first digital-native insurtech MGA and Lloyd’s coverholder. It was established in direct response to the freight underinsurance crisis, providing an end to it with data-powered, AI-priced, and on-demand cargo cover.
Our dynamic rating engine understands the actual risk attributes of each unique shipment 📈
— Loadsure (@Loadsurenow) December 19, 2022
Speaking on behalf of Tokio Marine Kiln, department head of marine & energy Richard Hooks said the company itself was the forerunner of providing practical insurance solutions to 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,” Hooks said. “Loadsure’s dynamic and integrated platform is an example of an agile program that supplies cost-effective, flexible insurance. As the market evolves and modernises, we are committed to supporting ventures like this.”