MGA Loadsure to bring weather intelligence to risk assessment
Insurtech MGA Loadsure has partnered with WeatherOptics, a weather intelligence platform, with the aim of bringing weather intelligence into risk assessment.
WeatherOptics translates weather data into actionable insights for logistics companies, providing predictive intelligence as a risk score or delay time that allows businesses to easily understand how upcoming weather will affect their operations. These insights help predict and mitigate uncertainties like trucking delays, warehouse disruptions, and driver risk due to weather.
By utilising WeatherOptics’ technology, Loadsure seeks to enhance the resolution of its rating algorithm, providing further improvements in speed of service and efficacy of coverage.
Johnny McCord,CEO and founder of Loadsure, said: “Loadsure always strives to be at the cutting edge of freight insurance technology, and partnering with WeatherOptics enables us to expand into a new field of protection and coverage, helping businesses to better understand and insure weather-related disruptions like delays of critical shipments, temperature breaches for sensitive freight, and warehouse disruptions. Our integration with WeatherOptics will further enhance our capacity for business-saving protection for SMEs; we look forward to collaborating.”
Scott Pecoriello,co-founder and CEO of WeatherOptics, commented: “WeatherOptics insights are designed to predict potential risks to supply chain and logistics operations by combining weather modelling with industry-specific data points like geospatial variables, telematics data, and power outage reports. This allows us to deliver granular insights on exactly how actual business operations will be affected by upcoming storms. We’re excited to partner with Loadsure to bring these insights to more shippers, carriers, and brokers.
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