Miami managed transportation services provider protects customers from the unexpected with per-load coverage

“We were going to the carriers with outstretched arms on clear-cut claims, asking them to give us something.

It could take a while, which wasn’t ideal for smaller companies—and carriers paid out on deserving claims at a rate of just over 50%. As a third-party logistics provider, that hurt me, too. Our clients were relying on me for a shipping experience they could count on.”

— Patrick O’Loughlin, COO

BUSINESS

Delivering managed transportation services with integrity

Based in Miami, FL, Regiment Logistics taps into its deep logistics talent, strong carrier network, and the power of automation to deliver LTL, FTL, and global freight forwarding services to its customers.

An agile company that has embraced cutting-edge tech, clients know they can rely on the Regiment Logistics team for proactive client communication, attentive service, and the ability to deftly manage complexity. What’s more, they value the company’s integrity; they know the company is committed to the success of their businesses.

CHALLENGE

Efficiently protecting clients from lost, damaged, and stolen freight

Many of Regiment Logistics’ international clients export products to central and south America. And business is booming. But one thing makes their lives unpleasant: Their LTL shipments change hands multiple times—which dramatically increases the chances of damage and loss.

Adding insult to injury, those who ship small volumes of high-value products are often unable to get great coverage from their carriers—and, sometimes, none at all.

Regiment Logistics COO, Patrick O’Loughlin shares, “These shipments are worth hundreds of thousands of dollars. For a small business, it could be their inventory for an entire month—even ninety days. If their shipment is lost and they don’t have any coverage, they’re at risk of shutting down or having to lay off employees to cover that loss.”

And, when it comes to the protection offered by MTC liability policies?

“We were going to the carriers with outstretched arms on clear-cut claims, asking them to give us something,” said Patrick. “It could take a while, which wasn’t ideal for smaller companies—and carriers paid out on deserving claims at a rate of just over 50%. As a third-party logistics provider, that hurt me, too. Our clients were relying on me for a shipping experience they could count on.”

When Regiment Logistics was unable to secure a claim settlement for damage that was clearly the fault of the carrier, the team went in search of a better solution. That’s when they discovered per-load cargo insurance—and thought they’d struck gold.

Sadly, their experience went far below expectation. Patrick had to hound the company to respond to his claims submissions, and his account was suspended after he issued only two claims. Rather than supporting their business, the folks at Regiment Logistics felt as though the company was working against them.

It was clear to Patrick that—like so many—the company needed an efficient, cost-effective cargo insurance solution that would actually protect their clients. However, he was beginning to believe no such solution existed.

SOLUTION

Easy-to-use, competitively-priced Loadsure “All Risk” cargo insurance

Recently, the CEO of Regiment Logistics passed along the name of a new business he’d heard of called Loadsure. The company’s end-to-end digital cargo insurance solution empowered freight brokers to purchase per-load coverage in one click.

Upon doing his due diligence, Patrick was impressed. “The Loadsure interface is easy; the best one I’ve seen,” he said. “And the cargo insurance product itself is very attractive. You can get $100,000 worth of coverage for a low price, under $40.”

The solution Regiment Logistics so desperately needed was now here. The company made the switch—and haven’t looked back.

BENEFIT

Delivering customers near-instant peace-of-mind

In the world of managed logistics, business moves fast—you need solutions that deliver a competitive advantage. Loadsure does just that.

“It’s actually kind of crazy how easy it is to buy a certificate,” says Patrick. “It blows my mind—I can acquire insurance in 5, 10 seconds.”

Patrick also noted that Loadsure’s real-time, dynamic pricing is cost-effective and very attractive to his customers.

Before Loadsure, only 30% of Regiment Logistics’ clients’ loads were covered by cargo insurance. Now, with the simplicity of Loadsure at its fingertips, almost 75% of the loads that come into its warehouse are now protected.

The icing on the cake is the accelerated claims feature: finally having an insurance claim process that doesn’t feel like an adversarial and dragged-out experience is a game-changer for Patrick.

“Loadsure is a no brainer,” Patrick says. “I don’t remember ever really having to sell it. It’s just something that makes sense and the price is right. It’s another tool that makes me even better.”

For more information, reach out to the Loadsure team.