Overhaul is collaborating with CNA to offer motor carriers enhanced insurance-program opportunities utilizing TruckShield, Overhaul’s risk-management app.
Announced earlier this year, TruckShield is a risk-management technology solution for North American motor carriers 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,” Barry Conlon, Overhaul’s CEO and founder, said. “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.”
In addition to equipment and cargo security, TruckShield’s technology aims 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,” said Drew Feldman, SVP, global marine business unit leader of CNA. “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.”
Recently, Overhaul announced its $35 million Series B round, which brings their total funding to $55 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.
