project44 announced a first-of-its-kind integration with Reliance Partners to give shippers and logistics providers access to real-time insurance quotes and the ability to purchase cargo coverage as they book freight shipments. This solution combines the power of project44’s Advanced Visibility Platform with Reliance Partners’ insurance brokerage to increase operational efficiency, reduce costs, and mitigate cargo risk, said officials.
Freight damage has an impact on shippers’, logistics providers’ and carriers’ bottom lines every year, be it caused by uncontrollable weather events or driver oversight. As a result, shippers and logistics providers are reliant on cargo insurance to protect freight in transit. Until now, accessing quotes or purchasing insurance has been done manually – working across various websites or systems and communicating back and forth via email and phone with potential providers. By utilizing this new offering, insuring freight is streamlined through an API integration into a user’s dispatch workflow, saving time and eliminating redundant paperwork and costly manual processes, said officials.
“We built our Advanced Visibility platform to remove inefficiencies from the supply chain and make the transportation experience easier for everyone involved,” said Tommy Barnes, president of project44. “The insurance quote and purchase process is another pain point that our technology and transportation expertise is able to solve. We partnered with Reliance for our insurance product launch because they share our progressive mindset. Together, we’ve built a unique solution that makes the purchasing of cargo insurance as simple as opting in for flight insurance when booking travel.”
“The project44 and Reliance teams have decades of experience in the trucking industry,” said Chad Eichelberger, president of Reliance Partners. “We understand which improvements will make the largest business impact to shippers and logistics providers. Our customers can spend up to 20 minutes per transaction obtaining and reconciling shipping and insurance quotes and rates. If you expand that out to a mid-sized logistics provider doing this all day, every day, you’re talking nearly 1,000 hours a year that this offering can virtually eliminate. The automation allows our customers to seamlessly handle hundreds of transactions, and empower opt-in decisions to instantly purchase primary coverage.”
The insurance product offering is available for trial now. Users access these capabilities directly via their company’s Transportation Management System. This initial offering supports Less-than-Truckload shipments, with additional modes, including Full Truckload, to be included in the future.