Thomas Ström established NTEX AB in Gothenburg in the year 2003. From the very beginning NTEX AB showed that they were a company in progress by leasing 50 trailers, having a turnover of MSEK 129 and a profit of SEK 900 000. After the first year, they purchased 100 trailers more.
– When I started the company, Thomas Ström tells us, I called Bertil Lindh at If and asked for assistance with our insurances.
In order to provide the best possible insurance cover and service for NTEX AB, If put together a client team of specialists to take control of all NTEX’s insurances. The team members have worked closely together with NTEX AB´s staff on a daily basis ever since.
The past years
In 2005 NTEX AB acquired Ecotrans, a company that was specialized in transports to the UK. Today they are the most important subsidiary within NTEX AB. In connection with this purchase, Ecotrans was transformed to a road carrier, as there was a shortage of truck capacity in the market. The former agent Davis Freight in UK was also acquired.
A few years later a new acquisition was at hand when a forwarding company in Småland was bought. The underlying cause for this acquisition was to develop transports to the Baltic area and Russia.
Co-operation and competence
Being a logistics operator, NTEX’s most important insurance is the FFL insurance that covers liabilities agreed upon with their customers. For other lines of business If provides normal coverage with favourable terms and conditions.
Thomas Ström says the main reason for their success so far is a strong customer focus, employees who take a broad responsibility for their jobs, a strong and closely united management team and finally a good control over NTEX AB´s contracted carriers and other partners.
– What we need from our insurance company is competence, good service level, quick response, support and the very best insurance solutions, Thomas Ström states.
NTEX AB utilizes a broad international insurance service from If via our Logistics Operators Competence Centre (LOCC) that provides insurance services directly or indirectly via If´s client team to a large number of Nordic logistics companies. Some of these companies offer their customers logistics services on a global scale whereas others operate on a more Nordic level.
Being a logistics operator it is important that NTEX gets quick answers from If. Daily contact between NTEX and If Marine both UW and Claims assures steady information flow. The management level is also involved, especially Thomas and the CFO.
Information and education of NTEX AB´s staff take place when requested and concerns both freight forwarders liability and cargo insurance. Mutual sharing of information and expertise is highly appreciated by If since Ntex is involved in the fronting discussions of the logistics industry.
The Risk Management
At present NTEX AB has no risk management function of their own and they have asked If to carry out an analysis of the companies operations via If´s Freight Forwarding Liability Navigator.
In brief, this navigator analyses NTEX AB´s management commitment, contracts undertakings and the handling of claims.
– For a logistics company there are always claims and we have had some bigger ones in the UK where–thanks to good co-operation with Ntex–we managed to limit the consequences.
Ntex already makes concrete changes in operations as a result of If’s risk assessments, especially when it comes to choosing sub contractors and securing that they have a valid and satisfactory transport liability insurance.
– In the future, after If analyses our operations through the Liability Navigator, we will have even better control over our operations, Ström believes.
On the future
With a combination of one of Sweden’s most modern transport fleets and a competent and committed staff, Thomas Ström looks into the future with confidence.
He is convinced that NTEX AB´s investments in the Baltic area and Russia will contribute to an increased volume and profit in the coming years.
– NTEX is a growing international logistics operator and we need international competence for our insurance needs. If can offer us just that, Ström declares.
