Bulgaria's Cargofort acquires Claims Trans

SOFIA (Bulgaria), September 19 (SeeNews) - Bulgarian logistics insurance broker Cargofort said on Thursday that it has acquired local transport claims handler Claims Trans.

The deal aims to streamline and enhance client services, bringing them into a single hub, Cargofort said in a press release. It combines expert services with international experience in claims handling and transport and logistics insurance.

The acquisition will broaden Cargofort’s services beyond its core offerings of cargo, carrier and forwarder insurance to include a wider array of transport claims processing capabilities such as damaged goods, cargo theft, late deliveries, unpaid transport invoices, optimisation and creation of transport contracts, as well as legal services.

The financial terms of the transaction were not disclosed.

"The acquisition of Claims Trans is a key step in our growth and development strategy, through which we expand our business and strengthen our presence in international markets. Our goal is to optimise the processes and communication of the parties involved in a case, relying on mediation, a professional tone, as well as software that supports these processes. The logistics industry needs this - understandable, affordable and easy-to-use insurance, which includes transparent and optimised claims management,” Cargofort CEO Marian Atanasov said.

Sofia-based Cargofort, founded in 2021, Cargofort is a leading player in Bulgarian transport insurance, using technology to deliver innovative solutions.

Claims Trans has resolved over 4,000 cargo cases since it was founded in 2018.