SUCCESS STORIES

ELIMINATING UNINSURED LOSSES

THE CHALLENGE:

A Michigan specialty transportation company delivers 25% of their cargo using third-party motor carriers. The majority of these third-party motor carriers buy incomplete cargo coverage leading to uninsured losses. These uninsured losses were being absorbed by the company and efforts to recover from the third-party motor carriers were usually unsuccessful and strained relationships. The company tried for several years to find an insurance solution for this issue.

OUR SOLUTION:

In a matter of months, Centerline developed custom policy forms, competitive pricing, and launched a program providing coverage for these losses.

END VALUE:

Our insurance solution allows the company to quickly resolves claims, avoid disrupting valuable third-party motor carrier relationships, and improves their bottom line.

COMPETITIVE MARKET ADVANTAGE

THE CHALLENGE:

An Ohio-based insurance broker requested Centerline develop an exclusive primary auto liability and physical damage program for a specialty cargo classification underserved in today’s commercial auto insurance market. In addition, the broker needed to launch the program in 39 states within a matter of months.

OUR SOLUTION:

Centerline quickly developed an exclusive, custom insurance product with several coverage enhancements unavailable in the market. We launched the program in all 39 states months ahead of schedule.

END VALUE:

The custom offering and quick launch provided the broker a significant competitive advantage in the market, allowing them to grow the program more quickly than originally contemplated.

CLIENT SATISFACTION

THE CHALLENGE:

A Tennessee-based insurance broker requested Centerline develop an API-enabled less-than-truckload cargo insurance coverage for their freight broker clients across the US.

OUR SOLUTION:

Centerline collaborated with the insurance broker to develop coverage tailored to their client’s needs. The company launched an affordable, custom per-shipment cargo product. To develop the product, the company partnered with Origami Risk to develop an API-enabled underwriting module that provides real-time quotes to shippers.

END VALUE:

Centerline’s comprehensive coverage eliminates the friction between freight brokers and their shippers when items are damaged in transit. Providing broad and affordable cargo coverage helps keep the freight broker’s clients satisfied.

CLIENT SATISFACTION

THE CHALLENGE:

A Florida-based freight broker needed to provide less-than-truckload cargo insurance coverage for their clients, but their current insurance provider refused to cover several critical commodities important to the freight broker’s business.

OUR SOLUTION:

Centerline collaborated with the freight broker to develop broad insurance coverage with custom pricing and deductibles tailored to their business. The company launched an affordable, custom per-shipment cargo product that met all of their client’s needs.

END VALUE:

Centerline’s comprehensive coverage enabled the freight broker to capture more freight transactions by offering coverage for these critical commodities.  Providing broad and affordable cargo coverage helps keep the freight broker’s clients satisfied and booking more loads with the freight broker.

CLIENT SATISFACTION

THE CHALLENGE:

Texas-based freight broker was spending a significant amount of time each day manually rating excess cargo policies for high-value loads where their motor carrier’s cargo limits were insufficient.

OUR SOLUTION:

Centerline’s and the freight broker’s teams collaborated to create a custom excess cargo coverage tailored to meet their needs. The solution enables the freight broker to secure real-time quotes with affordable coverage to keep their freight moving.

END VALUE:

Centerline’s per-shipment excess cargo program eliminates the need to manually rate policies freeing up the freight broker’s time to focus on their business. Providing broad and affordable cargo coverage helps keep the freight broker’s clients satisfied.

PARTNERING APPROACH

THE CHALLENGE:

A Wisconsin-based freight broker had their incumbent insurance company unilaterally change the freight broker’s cargo insurance program mid-term, first by increasing the policy deductible and next by more than doubling the premium rate.

OUR SOLUTION:

Centerline collaborated with the freight broker to offer them a series of program options allowing the freight broker to customize coverage limits, deductibles, and premium rates. Next Centerline offered the freight broker a series of guarantees to provide the freight broker cost certainty for their insurance spend. Finally, Centerline provided a custom profit-sharing opportunity to benefit the freight broker and their clients.

END VALUE:

Centerline listened to the needs and pain points of the freight broker and created a custom insurance program to address the client’s specific needs.