Loadsure boosts freight offering with Tokio Marine Kiln capacity backing

According to the managing general agent, the collaboration is part of a broader approach undertaken by TMK to drive digital innovation.

The aim of the partnership is to develop a framework that Loadsure can use to expand its platform capabilities, supported commodities and geographic outreach.

Founded in 2018, Loadsure is an insurtech MGA and Lloyd’s coverholder, which claims to address the freight ‘underinsurance crisis’ with data powered, AI-priced, on demand cargo cover.

The new backing follows on from Loadsure having closed an $11m (£9.12m) Series A funding round in early 2022.

Endorsement

Johnny McCord, CEO of Loadsure, said on the capacity backing: “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, department head of marine and energy at TMK stated: “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.”

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