Insurtech Indemni, which provides a cargo risk management and insurance platform, has become an approved Lloyd’s coverholder. It is sponsored by Chaucer Syndicate 1084 and has additional capacity backing from Aviva, Atrium, Blenheim and Talbot. In 2024, Indemni was a participant in the 13th cohort of the Lloyd’s Lab innovation programme.

Indemni’s proposition enhances verification of the carriers commissioned to move cargo and validates the individual drivers and vehicles arriving at a facility to take cargo on to its next destination.

Indemni offers contingent cargo liability with limits of up to £750,000 ($1m). Its trip transit spot coverage provides limits of up to £11.3m ($15m) per shipment. Cargoes covered range from electronics and household goods to building materials and metals.

Zach En’Wezoh, founder and CEO of Indemni, said: “We are setting the new standard for freight insurance by linking over-the-road intelligence directly to underwriting. By rewarding verified operational controls with better coverage and pricing, Indemni is building the world’s first insurance platform designed to eliminate physical supply chain risks.”

Simon Schnorr, head of marine and energy at Chaucer, commented: “Cargo theft is an established marine risk, but the methods being used are becoming increasingly sophisticated and evolving beyond traditional physical theft, with criminals increasingly using fraud, impersonation and manipulation of legitimate freight processes to gain control of shipments.”

He added: “Indemni brings a focused approach to a growing challenge for cargo owners and the logistics sector, combining specialist insurance protection with strong risk management.”