Loadsure granted DCA status by Lloyd’s

Loadsure has been awarded delegated claims administrator (DCA) status by Lloyd’s of London, a statement released yesterday (18 October 2023) said.

DCA status will allow the insurtech, which also acts as a managing general agent (MGA), to bring claims handling fully in-house so clients can get direct access to its claims adjusters.

Loadsure felt this would further improve claims processing times, enhance the accuracy of claims handling and improve customer satisfaction. 

”Lloyd’s granting us this is a major achievement for the company, further validating us as an insurtech MGA to be reckoned with,” Loadsure chief executive and founder Johnny McCord said.

”We believe this milestone will mark a major turning point for the market as well – showing the insurance industry’s increasing appetite for technology enabled solutions from organisations like Loadsure.”

’Speed and efficiency’

Loadsure added that the recognition “acknowledges the significant effort that Loadsure has put into its claims service”.

The firm said delivering on its claims promises “is a point of honour”, with it having recently settled a claim in less than 10 seconds.

Justin Murphy, executive vice president of claims at Loadsure, added: “Since our founding in 2018, Loadsure has always strived to be at the forefront of speed and efficiency when dealing with our customers’ claims.

”We are determined to be as effective and advanced in our claims service as we are across all of our business where we leverage high resolution data, artificial intelligence (AI) and automation to provide accurately priced freight insurance and risk analysis.

”Our new DCA status is recognition of Loadsure’s ongoing commitment to exceptional service.”