DAT Freight & Analytics has added the Loadsure per-load insurance offering to the DAT network, a marketplace for spot truckload freight.
Loadsure uses artificial intelligence and automation to provide single-trip cargo insurance for brokers, shippers and motor carriers. The insurance cost is based on pricing dynamically matched to each load, reducing costs up to 80%, DAT officials said in a press release.
This partnership enables DAT customers to add or expand coverage, making it easier than ever to insure a load in seconds directly from DAT’s load boards, company officials said. DAT customers can manage claims directly from within their DAT desktop dashboard, custom integration or third-party transportation management system.
Loadsure underwrites risk in real-time, and covers commodities and losses not normally covered by a carrier liability policy, like copper and heavy machinery, inside thefts and Acts of God, company officials said.
“Underinsurance is a crisis in the U.S., where up to 80 per cent of loads are underinsured or uninsured. This is because traditional insurers are unable to keep up with the pace of today’s freight market,” Johnny McCord, Loadsure Founder and CEO, said. “By leveraging AI, we dynamically match each policy to the load, providing coverage in seconds while reducing costs up to 80%.”