Truckit.net partners with NTI for Australian-first Freight Marketplace insurance offering

Truckit.net partners with NTI for Australian-first Freight Marketplace insurance offering

Posted by Truckit on 16/12/2019

Australia’s leading freight marketplace TruckIt.net has signed a major new partnership with specialist transport and logistics insurer NTI Ltd to provide TruckIt.net customers with an added layer of confidence when moving their goods.

The partnership will provide TruckIt.net users with the option to take out affordable, Single Transit Insurance for qualifying jobs booked through the platform.

The insurance cover provides Accidental Damage Cover on a range of commodities providing freight customers with an added layer of confidence when using the TruckIt.net marketplace.

Established by Queensland-born, Scottish rugby international Robert Russell, TruckIt.net is at the forefront of Australia’s rapidly-growing on-demand freight industry that is becoming an increasingly important part of the overall $100 billion a year freight industry.

The digital marketplace matches people wishing to freight large or harder to move items (cars, furniture, pallets etc) with transport operators that includes sole operators with one vehicle up to large multi-vehicle businesses.

TruckIt.net Founder and Managing Director Robert Russell said the partnership was the first of its kind in Australia and would further reinforce TruckIt’s industry leadership.

“Our customers have made it clear they want the additional confidence provided by insurance that covers their materials while on the road,” he said. “We listened and went about finding the best possible partner we could.”

“Our users will now have a seamless, fully-integrated option to insure their goods while in transit. They no longer need to go to a third party to get insurance or take the risk their goods may be damaged or lost while being moved.  They can also disregard having to rely on a transport providers insurance policy or warranties”

“NTI has gone above and beyond to ensure our customers have access to the best insurance coverage at an affordable price and we look forward to growing the relationship in the future.”

NTI General Manager Direct, Alan Hasted said the company was proud to partner with TruckIt.net to launch its first foray into the road freight marketplace industry.

“TruckIt has spent many years building a solid platform and loyal following from both users and transport providers and we couldn’t want a more trusted partner as we expand our portfolio of goods in transit offerings.”

NTI is solely owned and underwritten by CGU Insurance and Vero Insurance. This combines the strong industry experience of NTI in managing transport and logistics insurance with the backing and strength of two of Australia’s largest insurers.

The TruckIt.net platform was the first of its kind in Australia. Customers simply list their item on TruckIt.net for free and receive competitive quotes from interested vehicle operators. The booking, transaction and delivery process is managed directly between the freight owner and the operator.

Since it was first established in 2012, TruckIt has taken nearly 500,000 listings with deliveries covering more than 50,000,000 kilometres. At any one time there is about $1.5 million worth of freight projects posted on the site and available for truckers to quote on.

The idea for the business had its origins in Mr Russell’s return home from international rugby career and moving goods around the world and the country to set-up a new home in Brisbane.

“At the time there were a few freight marketplaces in the UK but it was very difficult to organise freight in Australia,” he said. “Getting a car moved from one city to another or some furniture across town shouldn’t require dozens of phone calls.”

The site now has nearly 300,000 customers who have posted a listing on the site and more than 4,500 truckers ready to quote on individual jobs.

The freight industry is one of the fastest growing in Australia with the volume of freight carried expected to grow by over 35 per cent between 2018 and 2040, an increase of 270 billion tonnes (bringing the total volume to just over 1,000 billion tonne kilometres), according to Bureau of Infrastructure, Transport and Regional Economics (BITRE).

Mr Russell, who operates the business with a small team at his Toowong office, said the company was ready to compete hard to be the dominant player in the market.

“We think we were the first of our kind in the country and would like to think that gives us the experience to deliver a much better customer experience than the swag of newcomers who have joined the industry in recent times,” he said.

“We have recently overhauled the platform and are ramping up a significant marketing campaign to ensure we stay ahead of the pack.”

Click here to find out more about the TruckIt/NTI partnership and Single Transit Insurance.

The Author

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