Trucker Path, a subsidiary of leading global SaaS provider, Moatable, Inc. and the most comprehensive and relied upon mobile app for North American truckers, today announced that it continues to expand its Trucker Path Marketplace offering with spot cargo insurance powered by MiKargo247. Using the Trucker Path Marketplace, North American truckers can have MiKargo247’s all-risk coverage cargo insurance for up to $1 million per load.
According to DAT, it is estimated that up to 90% of cargo on the road is underinsured or not insured at all. MiKargo247 understands from their underwriters that this represents $15+ billion in damages that cannot be recovered. The partnership between Trucker Path and MiKargo247 allows drivers and owner operators to fully participate in the freight market by meeting insurance requirements and having reliable protection.
“With spot cargo insurance powered by MiKargo247, the Trucker Path community has instant access to policies that can protect their loads beyond standard coverage,” said Chris Oliver, CMO at Trucker Path. “With these single trip policies and per load pricing, drivers and owner-operators can control their costs by choosing which loads to insure, and coverage amounts. This addition to the Trucker Path Marketplace supports truckers with an essential product that is easy to access, helps them operate more cost effectively, and provides peace-of-mind knowing their cargo is properly insured.”
Following the Trucker Path Marketplace model of making business easier for the driving community, obtaining coverage is a simple click on on the spot cargo insurance icon in the Trucker Path Marketpace and then entering cargo information. Per-trip spot cargo insurance offered by MiKargo247 covers all risks and provides broader coverage for commodities typically excluded by other cargo policies.
“MiKargo247 insurthech provides end-to-end spot cargo insurance as a readily-accessible solution for Trucker Path users is a natural fit and solution,” said Michele McGinnis, co-founder and CEO at MiKargo247. “Having the ability to include cargo protection as part of the trip planning process offers an added convenience for drivers so they can focus on their journey.”
Benefits of spot cargo insurance powered by MiKargo247 to the Trucker Path community include:
· Access to higher paying loads that need higher cargo coverage
· Access to commoditities typically excluded by standard cargo policies
· Quotes are generated in seconds and binding coverage can be issued in less than two minutes
· No waiting for agent or underwriter approval of commodity and limit
· No sign-up or subscription is required
· Simple online claim service
The insurer also provides phone, email and text customer support, and online claim reporting services.
MiKargo247 is underwritten by Roanoke Insurance Group Inc. with underwriting authority provided by A-Rated Munich Re Syndicate Ltd. – Syndicate 457 at Lloyd’s of London.