Overhaul collaborates with CNA to offer Motor Carriers Enhanced Insurance Program Opportunities
Austin-based technology company for shippers Overhaul announced a collaboration with P&C insurer CNA Insurance to offer motor carriers enhanced insurance program opportunities utilizing TruckShield.
Announced earlier this year, TruckShield is a risk-management technology solution that utilizes existing hardware in a motor carrier’s fleet to provide drivers with the ability to lock stationary equipment in place, resulting in increased asset and cargo protection.
“If a theft occurs, an immediate alert is sent out, and Overhaul LE Connect, our extensive law-enforcement network is brought in. With Overhaul LE Connect, the nearest law enforcement officer is tasked with successful recovery, which makes the prospect of equipment theft, the prime cause of cargo theft, much easier to mitigate.” – Overhaul’s CEO and founder, Barry Conlon.
In addition to equipment and cargo security, TruckShield’s technology also works to simplify insurance, maintenance, and safety administration, as well as allows motor carriers to build a data profile that demonstrates ongoing safety and compliance improvements — invariably lowering both cargo legal-liability and auto-liability costs.
“Through TruckShield, CNA can more effectively assess motor-carrier risk and adjust motor-truck cargo legal-liability policy terms and conditions when presented with a complete safety and compliance profile. CNA is deeply committed to offering technology solutions that complement our portfolio of Risk Control services – all which are designed to help policyholders reduce loss, while increasing profitability and productivity. We are excited to collaborate with Overhaul to implement this enhanced service offering.” – Drew Feldman, Senior Vice President, Global Marine Business Unit Leader of CNA.
Recently, Overhaul announced its $35 million Series B round, which brings their total funding to $64 million . In addition to striking strategic partnerships, the company will use the investment to accelerate its roadmap in continuing to optimize its current category-creating products.