InsurTech MGA Loadsure has announced a partnership with Burns & Wilcox, the largest independent insurance wholesaler and MGA operation in North America. Burns & Wilcox will offer Loadsure’s AI-powered trip transit insurance coverage to independent brokers across Canada, giving them access to dynamically priced, pay-as-you-go, all-risk smart coverage and automated claims—on a platform that takes just forty seconds to secure coverage.
Labor-intensive, traditional processes render single trip coverage unprofitable for insurance brokers and too slow and expensive for SMEs. Priced out of coverage, many SMBs are operating with broad risk exposure as a result. In fact, more than 60% of cargo in transit today is underinsured. Loadsure harnesses high resolution data, AI and automation to deliver the cost-effective coverage these businesses need, facilitating up to $2M of pay-on-demand insurance for solo trip coverage. With access to this industry-first transactional cargo insurance platform and automated claims process, Burns & Wilcox brokers can now support underserved SMEs through this low to no-touch solution.
Loadsure CEO Johnny McCord said, “We are pleased to announce our partnership with Burns & Wilcox. Their team has decades of experience supporting retail partners in the transit and cargo market, and they understand the pain points faced by brokers and assureds. Through this collaboration, we’ll deliver business-saving protection and much-needed peace of mind to the freight community. It’s exciting for us to expand across Canada as we continue to modernize the freight insurance market.”
“We are excited to deploy this capability to our broker partners across Canada as it will dramatically reduce a broker’s response times to their customer’s single load coverage requirements and showcase the greater need for usage-based insurance options,” said Fernando Batista, Associate Manager, Transportation, Burns & Wilcox Canada.