A fully integrated third-party logistics provider.

Founded in 2012, Steam Logistics is a fully integrated 3PL that provides value across the entire supply chain. The business is headquartered in Chattanooga Tennessee, but it delivers multi-modal solutions for more than 5,000 customers across the globe, with a diverse portfolio of clients varying from boutique SMBs to Fortune 500 companies.

As a non-asset owning brokerage, Steam Logistics specializes in sourcing trucks and other modes of transport at cost, while using technology to grant shippers end-to-end visibility throughout even the most complex supply chains.

The businesses’ commitment to serving the customer, with an ethos that “there are no unimportant shipments”, is just one of the reasons it’s been named amongst Transport Topics’ Top Freight Brokerage Firms in 2024.

Results snapshot

✔ 22% faster claims resolution
✔ Successfully acquiring new customers
✔ Quick, intuitive technology
✔ Strengthening existing customer relationships

The challenge 

Steam Logistics has always been diligent about having its own robust brokerage policy in place, and the carriers the business works with were covered by motor truck cargo (MTC) insurance too. On the occasion that cargo got lost or damaged while in transit, customers would sometimes look to Steam Logistics to cover those claims losses.

While sometimes, the liability for the loss would be covered by the MTC cover, often there’d be a gap between Steam Logistics’ own brokerage coverage and the truck drivers’ certificate for their cargo. 

That gap often came down to a criticle question: Who was responsible for covering the claim? If the motor carrier’s insurer denied it and Steam wasn’t liable, the customer was left bearing the loss. 

Meanwhile, the sales team regularly encountered challenges with customer RFPs requiring specific insurance solutions. In many cases, the answer was a transactional option with lower deductibles to bridge this gap.

“We needed to find a solution that would cover that gap. That’s why Reliance Partners engaged Loadsure on Steam’s behalf for their services.””

 

– Anthony Hernandez, Claims Manager

The solution

Orinoco™ — our digital shipper’s interest product.

Steam Logistics first learned of Loadsure through Reliance Partners — one of our insurance broker partners, specializing in the transport and logistics space. After an introduction to our team, Steam Logistics heard about Orinoco™ (Loadsure’s digital shipper’s interest insurance), which is designed to protect shippers and cargo owners from the gaps in carrier liability coverage that can put their revenue at risk. 

Orinoco™ provided an immediate solution for the business, as an all-risk cover for goods and merchandise in transit, regardless of whether damage was caused by carrier negligence, an Act of God or even theft (with some specific exclusions). With Orinoco™, Loadsure can even offer coverage for select and hard-to-place risks, enabling Steam Logistics to acquire new business from customers with very specific customisable or high-value needs.

The result

Anthony Hernandez — Claims Manager at Steam Logistics — says that today, the company is actually winning new business based on the speed and ease of working with Loadsure.

“Working with Loadsure has made a world of difference to Steam. This partnership through Reliance Partners has opened doors for Steam to acquire new customers that have their specific coverage requirements met through a Loadsure policy and at a rate that is incredibly competitive.”

Orinoco™ effectively plugs the gaps that were previously left between the brokerage cover and the MTC insurance policy, and in the rare instance that a claim is made, Steam Logistics reports that the resolution period is 22% faster than their usual claims process. So as well as acquiring new customers, the business is improving loyalty and retention from existing customers too.

Anthony also points out the considerable value-add provided by Loadsure’s spot rates. Particularly in his role, where he’s helping brokers who are deep in the trenches, he’s now able to quote and offer really solid rates on coverage, even on a shipment by shipment basis — where before they might have had to turn customers away.

He says “from my perspective — that’s the biggest win: having a provider who can give us a solution very quickly, and do it with great service.”

The technology has been a hit too, with the team at Steam Logistics reporting that the platform is easy to use and intuitive to navigate, partially thanks to the initial overview and training delivered by Loadsure.

“As far as the technology goes, Loadsure has been fantastic! It is intuitive and easy to use. Since it’s a web application, it’s as easy as acquiring login credentials. We hope to setup an API very soon!”

Key Takeaways

✔ Speed of claims resolution improved by 22%
✔ New business acquired based on speed and ease of Loadsure’s products
✔ Intuitive, easy-to-use technology, with effective training overview
✔ Fantastic level of service from the Loadsure team

We’re so glad to be playing a part in the success of Steam Logistics, helping them serve a broader customer base and expedite their claims through our Orinoco™ product. Ready to learn more about our offering? Don’t hesitate to get in touch with our team — we’re always pleased to hear from you.