Small and medium-sized businesses, which make up a huge portion of freight moved globally, have long struggled with underinsurance because traditional insurance products just have not met their specific needs, according to the founder and CEO of Loadsure, the pay-as-you-go InsurTech managing general agent.
Executive Summary
The CEO of InsurTech Loadsure had years of experience as a freight and logistics broker in the London market, which gave him unique insight into how technology could help fill the insurance protection gap for small and medium-sized freight shippers. SMBs are generally underinsured and underserved by traditional cargo insurance, but Johnny McCord aims to change that with his technology-driven startup.After many years working as a freight and logistics broker in the London market, Johnny McCord understood where the freight industry’s “pain points” were and thought technology and artificial intelligence (AI) could solve some of the underinsurance problems facing SMBs.
In an interview with Carrier Management, McCord said he has seen reports that 60 percent to 90 percent of cargo in transit is either underinsured or uninsured, which he calls “a global crisis.”
McCord launched Loadsure in 2018 because he saw a gap in the market that needed filling—an insurance protection gap.
