AXA XL and insurtech Vindati are partnering to offer ocean cargo insurance for SMEs.
Vindati offers specialty products and an integrated shopping experience for brokers and agents. AXA XL intends to use the insurtech’s proprietary rate, quote, bind, and issue online platform.
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“With this partnership, we’re extending availability of our cargo coverage to a broader business base,” said Andrew D’Alessio, head of Ocean Cargo for AXA XL’s US Marine insurance team.
“Vindati’s online platform expands our distribution to Vindati’s relationships and gives our brokers, easy access to instant, customisable quotes to address their clients’ cargo insurance needs. Focusing on US cargo risks with an international exposure of $25,000,000 and less, businesses can now easily buy AXA XL cargo coverage and include inland transit and warehouse coverage as well. With this partnership we have an attractive solution for a segment of the market that we ordinarily do not serve.”
“Our platform was built to address a clear need for solutions aimed at brokers who are serving small to medium sized businesses, giving them the ability to administrate higher volumes of policies cost effectively and efficiently. Not only does Vindati offer brokers speed and easy access, it provides insurance carriers, like the AXA XL companies, greater efficiency to deliver their coverages to a wide range of businesses for a variety of coverages,” said Vindati Founder and CEO Hugh Burgess. “Using leading technology, integrated data and analytic tools, we’re helping brokers and carriers deliver bindable quote proposals and policies in mere minutes. We’re excited to be able to partner with AXA XL to expand their capabilities in this way and look forward to working together to reach a previously untapped market segment.”
Conor Murray, AXA XL’s Head of Global Specialty Claims – North America, added, “Combining Vindati’s automated quote to issuance capabilities with AXA XL’s streamlined First Notice of Loss claims reporting website and handling process is a winning solution for our brokers and insureds enabling faster payment of claims.”
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By GlobalDataIn addition, Vindati offers products with contractors equipment, builder’s risk, and farm/ranchowners packages.
