Meet Freight Source Logistics
Flycovr offer a value added service to freight forwarders and logistic service providers. Helping to support the security and efficiency of the global supply chain, flycovr offer their products to logistics partners to ensure all end users can cover their shipments instantly, with global all-risk door-to-door insurance cover.
As the logistics launch partner of flycovr, CEO and Co-founder of Freight Source Logistics (FSL), Dalo Chouhan explains the role they play in the aviation industry and how flycovr can help with the service to their customers.
Tell us about yourself and what FSL does in the market?
Freight Source Logistics was formed two and a half years ago by myself and my business partner – who’s actually a family member. He’s my brother in law.
My background stems back to 1996 when I first came into the logistics fold. I fell in love with the industry pretty much from day one. Every day was different. I was privileged to hit the aerospace market at that time, and I handled big accounts such as British Airways, Easyjet, and American Airlines.
What Freight Source Logistics offers is every mode of logistics – whether that’s a crosstrade movement from say the USA to Thailand or a domestic movement within the UK or Europe. We pretty much cover every part of the logistics market: ocean freight, air freight, roadfreight and now e-commerce. It’s been a great ride so far.
What are your views on the aviation market today?
Obviously, during the pandemic it was a tough time for a lot of aerospace organisations. Flights were grounded, tourists weren’t going on holidays.
But for Freight Source Logistics it actually went the other way. We excelled during that period. At the same time as the pandemic we were going through Brexit and a lot of companies were wondering what processes they needed to implement to continue with imports and exports out of the country.
Because of that we brought on a lot of big aerospace clients at that time. We really performed for these clients. The market’s been great lately, and it’s great to see the aeroplanes back in the air now that the pandemic has taken a big backswing.
We were very worried about how we would navigate Covid-19, but in the end we were very fortunate to have so many good clients through that period. We were able to support them as a solutions provider.
We’ve got a great team behind us and we’re self-funded so we had to do everything. I don’t see our clients as clients anymore – I see them more as friends. That’s the culture that we build here at Freight Source Logistics. We’re here to create long term relationships with our customers.
How do you think flycovr helps you deliver great service to your customers?
When Louis and Sam brought this amazing idea to the table it was a no-brainer. Having worked in the industry for almost 30 years, I’ve seen so many risky scenarios. As Johnny mentioned on his last podcast, 60% of shipments are moved without any insurance. As a company owner now, that worries me because things can and do go wrong.
Shipments can be lost. Shipments can be damaged. What clients need to remember is that for a small insurance cost they can sleep at night. They will know that shipment’s going to be covered.
I was amazed by the flycovr portal. I’ve worked in many companies where insurance certificates are manually processed – it can be so long winded. You’re working out rates by hand. Now with Freight Source Logistics being involved with flycovr, not only can we quote for the movement but we can now take clients straight to the flycovr portal for an insurance quote there and then.
It’s brilliant – but also long overdue. Would you drive your car uninsured? No, you wouldn’t because it’s a high value asset. But we move between 25 and 35 engines a month, and we have to ask if these are insured. We’re talking about costs in the millions. So this is a big, big market.
Is this the first time that you’ve come across an insurance solution that moves as quickly as the supply chain?
Yes, completely. Until now it’s always been a manual process. You ring up an insurance company or you have an in-house insurer. You work on percentages and regions.
But when I spoke with Louis and Sam and they explained to me what was coming, I was elated for them. It’s such a great idea… and it was only a matter of time. You look at the world wide web now and you can pretty much buy everything. We’re all used to buying car insurance and house insurance online, why not your aviation parts insurance?
Have your customers ever asked about insurance?
Since we partnered with flycovr we now email our clients to ask whether they are insured. Because there are so many companies out there. If we look at the smaller MROs that are moving small boxes from A to B, 99% of the time they’re not covered.
Bigger companies are more likely to have cover under their own company insurance, so I think the target market here is the smaller or medium sized companies. It’s not just in their own interests but their customers’ interests.
If a shipment worth £20,000 is lost or damaged, who’s going to pay for that? There’s only so much that a freight forwarder can cover through maritime insurance. So this is a brilliant solution and I recommend it to all of those smaller and medium sized customers because it means their goods are going to be safe.
Why have you partnered with flycovr?
You have to look ahead, not behind and digital insurance is absolutely the way forward. And aerospace is a massive market. There are so many companies out there who are not insuring their goods, yet flycovr offers this and makes it so simple.
This platform is a no brainer for us, we fully support it and are recommending it to our clients.
How can your customers access instant insurance through flycovr?
We’re advertising the flycovr portal on our email signatures. Plus, when we provide a quote to a client on a day-to-day basis, if insurance is required our quote will direct them to the portal. One click takes you through to their page to obtain a price for insurance straight away.
It’s an amazing digital platform for any aerospace company and beyond. Aerospace parts are high in value, so it’s a no brainer to insure your goods as you’re actually moving them. Here at FSL we’re moving goods globally every day. And flycovr doesn’t restrict you to the UK, you can get quotes from other countries, so you’re covered globally.