The platform was launched in selected markets last year but due to positive feedback it has been expanded
Zurich has extended the roll-out of its marine insurance platform for small and medium cargo. This is because marine requirements have changed with the expansion of international trade.
Although globalisation has presented opportunities for companies to ship goods worldwide, this also creates more complex supply chains and risk exposures that can impact the ability to deliver goods safely.
Originally the Zurich Swift Insurance Platform was launched in selected markets in 2019, including Spain, Germany, Singapore and Mexico.
But as a result of positive feedback, Zurich intends to make it available in additional countries and regions, including North America, the Nordics and further countries in Latin America later this year.
Howard Kingston, Zurich’s global head of marine, said the platform ”provides comprehensive and tailored marine insurance for small and medium cargo in a very timely manner, and is a perfect example of our commitment to simple and efficient solutions”.
The platform uses automation technologies to allow marine insurance brokers and intermediaries to manage the full policy lifecycle for single shipment and annual cargo insurance policies. This includes receiving quotes, checking existing trade and economic sanctions, binding and renewing policies, making mid-term adjustments and issuing certificates.
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