CargoCover

What CargoCover does

CargoCover is a digital cargo insurance platform operated by Marsh Specialty, a division of Marsh LLC (a subsidiary of publicly traded Marsh & McLennan Companies). The platform enables freight forwarders, NVOCCs, third-party logistics providers, common carriers, load brokers, and shippers to generate instant insurance quotes, procure all-risk cargo coverage on a per-shipment basis, issue secure electronic certificates, and manage claims in real time. CNA provides underwriting capacity and W K Webster & Co Ltd administers claims, with Insurity delivering 24/7 technical support and platform operations. The platform is accessible globally via a self-service web interface and a documented API that embeds into booking platforms, online marketplaces, and logistics systems.

CargoCover monetizes cargo insurance on a transaction-based, pay-as-you-go model with no membership fees or minimum annual premiums; customers pay only for the coverage obtained per shipment. Pricing is quote-based and not publicly disclosed, with Marsh brokers assisting enterprise onboarding. Distribution combines a 24/7 self-serve digital experience, API-driven embedded integration for logistics platforms, and the Marsh broker network for enterprise sales. A related sub-brand, ParcelCover, extends the offering to high-volume small-parcel shippers.

The platform is multi-regional, with localized support in English, French (Canada), and Spanish (Spain), and active operations across Canada, the United States, Singapore, Hong Kong, the United Kingdom, and Spain. CargoCover is positioned as the industry's leading online cargo insurance platform, supported by Marsh's brand reputation and the long-standing marine and transit claims expertise of W K Webster (founded 1861). The product is differentiated by real-time claims reporting, electronic certificate verification, and seamless API-level integration with logistics workflows.

Name

CargoCover

Legal name

Marsh LLC

Website

https://cargocover.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1–10 employees

Short description

CargoCover is Marsh Specialty's digital cargo insurance platform that enables freight forwarders, 3PLs, common carriers, load brokers, and shippers to quote, bind, issue certificates, and manage claims online and via API on a per-shipment basis.

Ownership category

akta.pro rank

Product category

Cargo Insurance

NAICS

Freight Transportation Arrangement (488510)

SIC

Arrangement Of Transportation Of Freight & Cargo (4731)

akta.pro primary industry

Cargo Claims Management & Loss Prevention (Survey, Recovery, Subrogation Support) (TLACAHAH)

Keywords

• Cargo insurance
• Marine insurance
• Freight insurance
• Logistics insurance
• Digital insurance platform

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Cargo Insurance Premiums: CargoCover generates revenue through insurance premiums charged on cargo insurance coverage obtained through the platform. Users pay for the coverage they obtain with no minimum annual premiums — no membership fees or monthly minimums are required. Coverage is obtained on a per-shipment basis.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

CargoCover is a digital cargo insurance platform that enables freight forwarders, third-party logistics providers, common carriers, load brokers, and shippers to generate instant insurance quotes, procure all-risk cargo coverage, issue secure electronic certificates, and manage claims online. The platform is supported by Marsh Specialty and backed by underwriter CNA, with integrated claims administration handled by W K Webster. A separate ParcelCover sub-brand provides digital parcel shipping insurance for high-volume package shippers.

Product overview

CargoCover is a single, unified digital cargo insurance platform operated by Marsh Specialty. The core product is CargoCover itself, which handles instant rate generation, coverage procurement, electronic certificate issuance, and claims management. A related sub-brand, ParcelCover, provides a separate digital parcel insurance offering for high-volume package shippers. Both products are offered under the Marsh Specialty umbrella and share the same underlying Marsh/Insurity technology infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• CargoCover: The industry-leading online cargo insurance platform offering convenient and cost-effective cargo insurance and claims administration for freight forwarders, 3PLs, common carriers, and load brokers.
• ParcelCover

Products and services

• CargoCover CargoCover is an online cargo insurance platform that provides instant rate generation, insurance coverage procurement, secure electronic certificate issuance, and real-time claims administration for freight forwarders (NVOCC), third-party logistics providers (3PLs), common carriers (ocean and truck), and load brokers. It offers all-risk, warehouse-to-warehouse coverage for goods in transit by land, sea, or air, with no membership fees or minimum annual premiums.
• ParcelCover ParcelCover is a convenient and cost-efficient digital parcel shipping insurance solution for large-volume shippers of big or small packages, offered by Marsh Specialty. It provides parcel insurance coverage as a separate digital offering under the same Marsh Specialty umbrella as CargoCover.
• CargoCover API The CargoCover API is a frictionless, well-documented API with web services that integrates seamlessly with booking platforms, online marketplaces, and other systems used by freight forwarders, 3PLs, common carriers, load brokers, and shippers to quote and book cargo insurance shipments directly. It is cloud-based and supported with 24/7 availability.

Quantifiable outcome

• CargoCover has integrated with one of the leading marine and transit claims specialists, providing real time claims reporting and monitoring, greatly improving the speed and efficiency of the entire claims process.

Named customers2 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• CNA (CNA Canada)coreOthersCNA is CargoCover's underwriter, providing the insurance capacity backing the cargo insurance platform. The partnership is displayed on the CargoCover website with CNA's logo and a link to CNA's website, indicating CNA as the insurance provider behind the coverage.
• CIFFA (Canadian International Freight Forwarders Association)minorGTM or Marketing PartnerCIFFA is displayed as an association partner on CargoCover's website. CIFFA represents Canadian International Freight Forwarders and their logo is featured alongside association information, indicating a marketing and industry relationship.
• NCBFAA (National Customs Brokers and Freight Forwarders Association of America)minorGTM or Marketing PartnerNCBFAA is displayed as an association partner on CargoCover's website. NCBFAA represents customs brokers and freight forwarders in America and their logo is featured alongside association information.
• W K Webster & Co LtdcoreTechnology or IntegrationCargoCover has integrated with W K Webster & Co Ltd, one of the leading marine and transit claims specialists. W K Webster provides real-time claims reporting and monitoring, significantly improving the speed, efficiency, and transparency of the entire claims process. Since 1861, W K Webster has built an impressive reputation for excellence in marine and transit claims consultancy. W K Webster manages claims through regional offices in London, Singapore, New York, and Los Angeles, ensuring contact with all relevant parties at any time of day.
• InsuritycoreTechnology or IntegrationInsurity provides technical support for CargoCover platform users. North America support is available toll-free at 1-888-289-7744 and international support at +1-514-289-9090. Insurity supports implementation and ongoing technical operations of the CargoCover system, with global help desk and implementation support services available 24 hours a day.
• Marsh Specialty (Marsh)coreStrategic or Co-development PartnerCargoCover is a solution from Marsh Specialty, the world's leading risk and insurance services firm. Marsh Specialty's Marine, Logistics and Transportation Specialty Group provides the resources, innovative approach, and industry-specific expertise backing CargoCover. CargoCover operates as Marsh's online cargo insurance platform, leveraging Marsh's long history of providing transportation insurance and risk management consulting services to the logistics industry.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Insurwave: Insurwave is a digital marine insurance platform built on blockchain technology, targeting shipping and logistics companies. While focused on hull and machinery insurance initially, they represent the emerging digital insurance trend in the maritime and logistics sector.
• Concirrus: Concirrus is a marine insurance analytics provider using data and AI to improve underwriting and risk assessment in marine cargo insurance. They serve a related but adjacent function in the cargo insurance value chain, with potential to expand into more direct cargo insurance offerings.

Direct peers

• Voyager Insurance Services: Voyager Insurance Services provides specialized cargo and freight insurance products for freight forwarders, NVOCCs, and logistics companies. They offer similar coverage products and target a comparable customer base in the freight insurance market.
• Loadsure: Loadsure is a digital freight insurance platform providing instant, per-shipment cargo insurance for freight brokers, forwarders, and carriers. They share a near-identical value proposition to CargoCover, offering API-based integration and pay-as-you-go pricing for the digital freight ecosystem.
• TT Club: TT Club is a mutual insurance provider specifically serving the international transport and logistics industry, including freight forwarders, NVOCCs, and 3PLs. They provide cargo and liability insurance products to a similar customer base, though through traditional broker channels rather than a digital platform.

Broad incumbents

• AIG (Marine Insurance): AIG is a major global insurer offering cargo and marine insurance products for shippers, freight forwarders, and logistics companies. They compete for similar cargo insurance customers but through traditional broker and underwriting channels rather than digital self-service.
• Chubb (Marine Cargo Insurance): Chubb is a large global insurer offering marine cargo insurance products for importers, exporters, and logistics providers. They compete for cargo insurance business but operate primarily through traditional broker and underwriting channels rather than digital platforms.
• Aon (Cargo & Logistics Insurance): Aon is a global insurance broker and risk management firm that arranges cargo, marine, and logistics insurance solutions for shippers, freight forwarders, and 3PLs. They are a competitor to Marsh in the broader insurance brokerage space and offer cargo insurance products to similar customers.
• Marsh Specialty (Marine, Logistics & Transportation): Marsh Specialty is the parent brand and broader insurance division that houses CargoCover. As the world's leading risk and insurance services firm, Marsh offers a broader portfolio of transportation, marine, and logistics insurance products beyond the digital cargo insurance niche.
• Zurich Insurance (Marine Cargo): Zurich Insurance is a major global insurer offering marine and cargo insurance products for businesses involved in international trade and logistics. They serve similar customer segments including freight forwarders, shippers, and logistics companies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cargocover

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CargoCover