Addressing the supply chains underinsurance crisis [Video]

With more than 60% of freight under- or uninsured, the underinsurance crisis is a symptom of the fact that traditional insurance processes cannot adequately protect stakeholders in the demanding environment of the modern supply chain. 

Traditional insurance policies are designed for enterprise accounts; inherently cumbersome, inaccurate and one dimensional, they are often unfit to serve small and mid-sized businesses (SMBs) and meet their unique needs. 

Johnny McCord, CEO and founder of Loadsure, developed an end-to-end InsurTech solution that enables insurance brokers to better serve their freight community clients and tackle the underinsurance crisis.

“Solving the underinsurance crisis is our mission,” McCord said. “Traditional insurance processes have been very slow to evolve and address the needs of the supply chain. We know how important the SMBs are within the freight industry, and their needs are very different from large enterprises,” he said. 

McCord observed a massive unmet need in the freight industry, and designed Loadsure’s model to fill that gap. “I worked in the …