Transport & Logistics Company
FreightWise was approached by one of Australia’s leading freight companies, with revenue of over $170 million and a large base of customers. The freight provider was looking to offer its customer base a product to cover losses and damages in transit.
FreightWise did a study on the freight company’s customer base and found that their customers were inclined to pay a nominal value for a product such as the FreightSafe warranty if the freight company would ensure that all losses and damages were compensated for.
Having concluded the study, FreightWise implemented the FreightSafe Warranty Program for a segment of the transport company’s customers. With an 85% take-up rate on the product, the freight company generated a healthy fund with strong bottom line revenues and a higher customer satisfaction level due to losses and damages now being covered. A corporate fund was ultimately structured for the freight company offering their larger customers the same level of service at an aggressive market rate.