Apollo, a Skyward Group company, has entered into a partnership with ZenHedge, a US-based insurtech start-up, to bring to market Freight Expense Insurance, a parametric insurance solution aimed at shielding US shippers from unplanned freight cost increases driven by trucking carrier tender rejections.
ZenHedge’s proprietary platform leverages data drawn from shippers’ Transport Management Systems (TMS) to evaluate trucking lane risk and predict tender rejection activity, allowing for a more efficient, analytics-driven transfer of risk. The product will debut in the US, a market where trucking moves over 70% of all freight and where protection for this type of cost risk has historically been limited.
Apollo is sponsoring ZenHedge as a Lloyd’s-approved coverholder, providing underwriting capability, market reach, and strategic support to help build and scale the solution. The collaboration is further strengthened by Aon, whose Reinsurance, Digital Economy Broking, and Delegated Authority teams in the US and London are supporting the initiative.
Hayley Budd, Class Leader, Innovation, Apollo, commented: “We are delighted to partner with ZenHedge and Aon to bring a truly innovative solution to one of the challenges in US supply chains. Tender rejections create costly uncertainty for shippers of goods, and ZenHedge offers a practical, data-driven way to protect clients’ operations from such tender rejection events. This partnership reflects our commitment to supporting forward-thinking MGAs who are reshaping how risk is understood and insured, especially in global supply chains. We are excited about the scale and future potential this product and partnership represent.”
Krishnan Kandasamy, Founder and CEO of ZenHedge, added: “ZenHedge is proud to partner with Apollo and Aon, leaders in the insurance innovation space, to bring Freight Expense Insurance product to the US market. For far too long, shippers have relied on a patchwork of digital freight technologies and trucking carrier relationships to manage freight transportation risks. Our product addresses an unmitigated insurance gap in the vital supply chain ecosystem.
“Apollo’s innovation team has had a successful track record of partnering with insurtech startups in bringing breakthrough technologies, risk models, and underwriting capabilities to the insurance industry. Aon’s Reinsurance, broking, and delegated authority teams provide a seamless end-to-end platform for insurance startups like ZenHedge to succeed. We are grateful for the mentorship and support offered by Apollo and Aon and look forward to the immense potential of this breakthrough product and the opportunities it presents.”
