Apollo and ZenHedge Collaborate on Innovative Parametric Solutions for Shippers

Apollo, a Skyward Group Company, has announced an exciting partnership with U.S. startup insurtech ZenHedge to introduce a groundbreaking parametric insurance product known as Freight Expense Insurance. This innovative solution is specifically designed to protect U.S. shippers from the financial impact of increased freight costs that arise from trucking carrier tender rejections.

This partnership highlights Apollo’s commitment to fostering innovative underwriting propositions that effectively address real-world commercial challenges faced by shippers today. By leveraging advanced technology and data analytics, the collaboration aims to provide a robust safety net for businesses navigating the complexities of freight transportation.

ZenHedge’s proprietary platform plays a crucial role in this initiative. It utilizes data from shippers’ transport management systems (TMS) to model risks associated with trucking lanes and tender rejection events. This data-driven approach enables efficient risk transfer, allowing shippers to manage their exposure to unexpected freight cost increases more effectively. The product is set to launch in the U.S. market, marking a significant step forward in the realm of freight insurance.

Apollo has sponsored ZenHedge as a Lloyd’s approved coverholder, bringing its underwriting expertise, innovative leadership, and extensive market access to the table. This collaboration aims to support the development and scaling of this new solution, which is underpinned by ZenHedge’s technology-led approach and supported by Aon.

Hayley Budd, class leader of innovation at Apollo, expressed enthusiasm about the partnership, stating: “We are delighted to partner with ZenHedge and Aon to bring a truly innovative solution to one of the challenges in U.S. supply chains. Tender rejections create costly uncertainty for shippers of goods, and ZenHedge offers a practical, data-driven way to protect clients’ operations from such tender rejection events.”

Krishnan Kandasamy, founder and CEO of ZenHedge, emphasized the need for this solution, saying: “For far too long, shippers have relied on a patchwork of digital freight technologies and trucking carrier relationships to manage freight transportation risks. Our product addresses an unmitigated insurance gap in the vital supply chain ecosystem.”

SOURCE: Apollo

Apollo, a Skyward Group Company, has announced an exciting partnership with U.S. startup insurtech ZenHedge to introduce a groundbreaking parametric insurance product known as Freight Expense Insurance. This innovative solution is specifically designed to protect U.S. shippers from the financial impact of increased freight costs that arise from trucking carrier tender rejections.

This partnership highlights Apollo’s commitment to fostering innovative underwriting propositions that effectively address real-world commercial challenges faced by shippers today. By leveraging advanced technology and data analytics, the collaboration aims to provide a robust safety net for businesses navigating the complexities of freight transportation.

ZenHedge’s proprietary platform plays a crucial role in this initiative. It utilizes data from shippers’ transport management systems (TMS) to model risks associated with trucking lanes and tender rejection events. This data-driven approach enables efficient risk transfer, allowing shippers to manage their exposure to unexpected freight cost increases more effectively. The product is set to launch in the U.S. market, marking a significant step forward in the realm of freight insurance.

Apollo has sponsored ZenHedge as a Lloyd’s approved coverholder, bringing its underwriting expertise, innovative leadership, and extensive market access to the table. This collaboration aims to support the development and scaling of this new solution, which is underpinned by ZenHedge’s technology-led approach and supported by Aon.

Hayley Budd, class leader of innovation at Apollo, expressed enthusiasm about the partnership, stating: “We are delighted to partner with ZenHedge and Aon to bring a truly innovative solution to one of the challenges in U.S. supply chains. Tender rejections create costly uncertainty for shippers of goods, and ZenHedge offers a practical, data-driven way to protect clients’ operations from such tender rejection events.”

Krishnan Kandasamy, founder and CEO of ZenHedge, emphasized the need for this solution, saying: “For far too long, shippers have relied on a patchwork of digital freight technologies and trucking carrier relationships to manage freight transportation risks. Our product addresses an unmitigated insurance gap in the vital supply chain ecosystem.”

SOURCE: Apollo