Freight cover

Apollo has announced a partnership with ZenHedge, a US-focused insurtech start-up, to launch a first-of-its-kind parametric insurance product freight expense insurance designed to protect US shippers against increased freight costs caused by trucking carrier tender rejections. ZenHedge's platform analyses data from shippers' transport management system data to model trucking lane risks and tender rejection events enabling efficient, data-driven risk transfer. The product launches in the US, where trucking accounts for more than 70 per cent of national freight movement and where this risk remains largely uninsured.