London-based insurtech managing general agent and Lloyd’s coverholder Loadsure, which specialises in freight insurance and insight products, has launched Loadsure Europe.
Under its European expansion, Loadsure will initially focus on the Benelux countries, Germany, France, Denmark, Norway, Finland, and Sweden. Leading the operations is newly appointed director of Europe, Ben Brough.
The key hire brings more than 28 years of experience in marine insurance, having worked extensively across the UK, US, European, Asian, and Middle Eastern markets. He made the switch from Munich Re, where he was instrumental in developing and expanding the reinsurer’s global portfolio for nearly three decades.
“The freight and logistics sectors in Europe play a vital role in facilitating trade and maintaining the smooth flow of goods,” Brough noted. “But they face a difficult supply chain environment exacerbated by the war in Ukraine, COVID-19, Brexit, sustainability concerns, and the need to adapt to technological transformation and integration, with transportation costs going up across the globe.
“Streamlining processes and investing in digital solutions is critical to deal with these issues. At Loadsure, we enable our clients to enhance their risk management practices, protect their financial interests, and navigate the challenges of the industry more effectively.”
Loadsure’s key products are dynamic on-demand cargo insurance Thames, which replaces manual underwriting with an automated process; digital ocean cargo and stock throughput insurance Huron, which is described as an industry-first; and dynamic ocean cargo insurance Danube, which allows for annualised ocean cargo cover.
Chief executive and co-founder Johnny McCord commented: “We’re looking for progressive, forward-thinking, tech-savvy insurance broker partnerships; we know that there is huge demand for technology-enabled freight insurance, making this the perfect time for Europe’s insurance market to upgrade to the new era of holistic freight protection.
“The freight industry is being transformed by digitalisation, and we look forward to working closely with local distribution partners to deliver the leading edge, tech-powered solutions the freight community demands.”
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