(Image credit: ArtTower.)
Overhaul (Austin, Texas), an intelligence-driven, risk-management, and real-time visibility technology provider for supply chains, has announced a collaboration with CNA (Chicago). The companies will offer motor carriers enhanced insurance-program opportunities utilizing TruckShield, Overhaul’s risk-management app.
Announced earlier this year, TruckShield is an industry-first, risk-management technology solution for North American motor carriers. The low-cost technology solution 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,” comments Barry Conlon, CEO and founder, Overhaul. “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 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, the vendor says.
“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,” comments Drew Feldman, Senior VP, Global Marine Business Unit Leader, 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 the company’s total funding to $55 million. In addition to striking strategic partnerships, the company says it will use the investment to accelerate its roadmap in continuing to optimize its current category-creating products.