Canadian insurtech Foxquilt has launched a new e-commerce insurance product in Canada to help business owners secure coverage tailored to their particular requirements, entirely online, at the time of their choice.
Foxquilt’s e-commerce product is designed to particularly help new and existing e-commerce business owners access insurance and meet compliance needs.
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The company claimed that its latest offering enables dependable coverage irrespective of the percent of US sales or where the products come from.
This product is claimed to have been kept affordable, with premiums starting at $500 annually.
Foxquilt CEO and co-founder Mark Morissette said: “Innovating insurance solutions for our small business customers has always been the epitome of our business at Foxquilt.
“That’s why we’re proud to introduce this new product offering to ensure that e-commerce business owners can secure insurance online and on-demand while protecting them from exposures where they trade.”
Foxquilt enables small business owners in more than 500 professions to quote, buy and immediately get their business insurance online.
The company stated that it is committed to developing technology that enables small business owners to gain more control of their insurance buying experience, rather than being subjected to long wait times, extensive paperwork and a lack of autonomy.
Foxquilt’s platform is complemented by data and machine learning underwriting infrastructure, which in turn suggests coverages as per a user’s individual profile.
The company plans to launch the e-commerce product within the US later this year.
It also intends to expand partnerships with e-commerce marketplaces and online stores to offer coverage.
