TrueNorth Launches Independent Carrier Extension (ICX) Practice
posted by TrueNorth Transportation on Monday, February 13, 2017
For Immediate Release
Contact:
Amara Andrews | (319) 739-1271
aandrews@truenorthcompanies.com
ICX: The Settlement Carrier Model
(Cedar Rapids, Iowa, February 2017) - This week, TrueNorth's Transportation Division announced the formal launch of Independent Carrier Extension (ICX): an alternative capacity platform for Third Party Logistics (3PL) companies. Simply defined, the ICX model utilizes a hybrid approach by leveraging the best characteristics of operating as an authorized property broker/freight forwarder and a licensed motor carrier.
Established in 2007, ICX was originally developed to anticipate future employment laws that would create conflict with the traditional motor carrier-independent contractor model. A decade later, the battle over independent contractor classification continues to play out at the state and federal level, while logistics companies are desperately searching for new avenues to increase capacity.
The complexities of the ICX platform require a skilled approach that appropriately balances risks against opportunities of this new and emerging capacity model. TrueNorth's innovative ICX practice area is equipped to provide solutions that contemplate the following:
Legal & Compliance
We coordinate a legal review of the 3PL's corporate structure and contract governance processes. This review helps TrueNorth implement best practices to protect the 3PL and its shipper customers from negligent entrustment, vicarious liability, and employment misclassification risks.
Technology & Administration
We conduct a comprehensive evaluation of technology systems, people, and processes to aid in process automation and risk reduction. Workflow automation of scalable, repeatable processes is required to support the 3PL with carrier qualification, compliance monitoring, and capacity management.
Safety & Capacity
TrueNorth facilitates a collaborative top-down adoption of core safety principals, leveraging TrueNorth's proprietary risk-basked business intelligence platform, iNERGY. This platform equips executive and cross-functional teams with the operational analytics they need to make data-driven decisions. We also provide a thorough assessment of carrier "eco-system" tools, e.g. insurance, needed to promote sustainable and growth-oriented capacity.
Risk Transfer
TrueNorth designs and implements risk management and insurance solutions that consider the dynamic interplay between the shipper customer, 3PL and carrier. We do this with the understanding that risk management and safety disciplines must evolve at the same pace as business growth.
TrueNorth's industry-leading asset light practice services the industry's largest transportation enterprises. As the asset light model continues to evolve, TrueNorth's dedicated ICX team of specialists will continue to design and implement innovative risk management offerings to reduce the cost of risk.
Learn more about TrueNorth's ICX program by visiting https://truenorthcompanies.com/transportation/enterprise-risk-management/default.aspx,
About TrueNorth
With headquarters in Cedar Rapids, Iowa, and locations across the United States, TrueNorth is one of the largest risk management and insurance brokerage firms in the transportation industry, actively working with hundreds of Motor Carriers and over 45,000 Owner Operators across the United States. TrueNorth assists transportation companies and their people with protecting and maximizing assets, resources and opportunities. For more information, visit www.truenorthcompanies.com.
A downloadable form of this press release is available at this link.