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The world of insurance is changing, and Overhaul is helping to drive that change further and faster. Overhaul’s products are built for and by supply chain professionals. With thousands of years of hands-on experience built into our platform, we’re building solutions to help our customers navigate the changing risk landscape and all that comes with it. And now, we’re excited to announce that we’re launching our first insurance line, Shipper’s Interest.
Overhaul’s Shipper’s Interest program is now bringing a gold standard insurance carrier into the high value, theft attractive cargo insurance market. We’re adding significant new capacity and bringing aggressive rating and terms. How? Because now we’re closing the gap between logistics risk management data and insurance carriers, which allows insurers and insureds to work together to negotiate premiums based on your company’s unique risk profile.
Meet the team
Kristy Neal – Vice President, Business Development & Insurance Programs – With over 25 years in the insurance industry, Kristy is a proven leader with significant insurance experience. From time spent in cultivating strategic partnerships and underwriting, to building out MGAs and programs, all split between retail brokerage, MGAs and carriers, Kristy is the perfect fit for our commercial auto insurance division.
Pat Stoik – Chief Risk Officer – Pat has spent his 37 years developing new ideas and pushing the envelope in the property casualty insurance business working mainly in the cargo space. Much like his experience suggests, he works at Overhaul to ensure that carriers can mitigate as much risk as possible and that their insurers are well aware of that fact.
David Braunstein – EVP Insurtech – David oversees Overhaul’s marriage of technology and insurance, and helps bring Pat and Kristy’s expertise to bear. Responsible for creating Overhaul’s insurtech strategy, he also brings a technology-forward mindset to the team.
Our vision
The time has come for modern supply chains and transportation networks to get the insurance they deserve. Overhaul fuses active risk management with financial risk transfer so that our customers and partners can gain the full benefits of reducing their total cost of risk. Our technology provides organizations with unprecedented levels of visibility which they can then use to reduce their total cost of risk, both in the field and in conversations with their insurance providers.
We know from experience that insurance institutions tend to be very conservative with their estimates. Our solutions bring intelligent insights based on real-time data to inform decision making on pricing while delivering proactive risk management for when supply chains step outside of their “happy path” and require real-world intervention.
Our goal is that when working with us, insurance companies see you as a valued partner. At the end of the day, we’re working for a win-win solution. You lower your total cost of risk, and your insurance company can be confident they have a true partner in risk management.
“We are creating a program that will disrupt the insurance marketplace, creating robust cargo and commercial automobile liability opportunities in the transportation space. Our data driven approach and collective insurance experience gives us unique insights into the pain points of both our customers and the insurance industry.” – Kristy Neal
The future of Overhaul insurance
Overhaul’s insurtech is already hard at work getting some big wins. We can’t announce all of them just yet, but we can give you a sneak preview of the kinds of deals that we’re putting together for our partners.
We’re creating an ecosytem for preferred pricing, more beneficial terms and conditions, and quicker claims service to all Overhaul customers that qualify. Our technology stack is impressive and so potentially effective that our insurance partners view our customers as less risky and more engaged in protecting their cargo.
“We are helping to change the mindset of insurance companies and unlocking the industry by providing them with the visibility and data, allowing them to more accurately underwrite risk.” – Pat Stoik
On the technology side, we have an exciting vision to provide our customers with the ability to perform loss control in real time. Our clients will be able to monitor risk and intervene in real time, something that will further demonstrate to insurance providers that organizations are serious about reducing their risk.
With supply chains digitizing rapidly, greater insight into operational outcomes and risk is more readily available. Supply chains are becoming more resilient, and with that, insurance providers are recognizing that financial resilience must also keep pace. Overhaul’s insurtech team works to bring the benefits of digitization to your insurance provider, giving them the confidence they need to reduce your premiums and your total cost of risk. If you’d like to learn more about how Overhaul can help you provide visibility and reduce risk, contact us today.
