Tokio Marine Kiln puts up fresh capacity for marine cargo insurtech MGA
Insurtech MGA and Lloyd’s coverholder Loadsure has received capacity backing from specialist international insurer Tokio Marine Kiln (TMK) to enhance its data driven freight protection offering.
The move comes part and parcel with a drive by TMK to push digital innovation, in this case by enabling Loadsure to expand its platform capabilities, roster of supported commodities and geographic reach.
Loadsure offers data powered, AI-priced, on demand cargo cover. Support from TMK comes just as a recent $11 million funding round in early 2022 laid the groundwork for growth.
Loadsure CEO Johnny McCord commented: “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.”
TMK’s department head of marine and energy Richard Hooks said: “We partner with a wide range of organisations, including insurtechs, academic institutions and businesses, to harness expertise and help clients transfer risks, fulfil ambitions and navigate change. 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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