We are very excited to be backing Loadsure, the embedded insurance solution that works at the speed of the supply chain, in this $11 million Series A funding round.
The need for instant, on-demand risk management is clear. Today, 60 to 90% of cargo in transit is under or uninsured, in part because traditional insurance can’t keep pace with the just-in-time supply chain.
Leveraging AI and automation, Loadsure is taking direct aim at the global underinsurance crisis, enabling insurance wholesalers and retailers to profitably service a larger market through scalable, low-to-no-touch solutions.
Loadsure has also led the way on freight insurance innovation, and it was the first to digitalise the full cargo insurance life cycle, delivering one-click coverage to the U.S. freight industry, and offering an international, per-shipment insurance API.
We led the Series A alongside Crowley and existing investor Insurtech Gateway because we believe that Loadsure is completely modernising the way the freight insurance market is served – offering a fully digital, data-driven, embedded insurance product.
Coupled with the impressive domain expertise of Johnny McCord, Jim Heide and Damith Chandrasekara, we believe this team can drive meaningful change for the freight industry.
MMC Principal, Alexia Arts, had this to say of the investment:
Read more on the Loadsure story via City AM.