Zurich Insurance Group is expanding the roll-out of a new marine insurance platform for small and medium cargo, following its successful introduction in selected markets around the world.
The Zurich Swift Insurance Platform provides intuitive, web-based access to insurance that users can tailor to their needs, said the company.
The Zurich Swift Insurance 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 & economic sanctions, binding and renewing policies, making mid-term adjustments and issuing certificates.
The platform was launched in selected markets in 2019, including Spain, Germany, Singapore and Mexico. As a result of the very positive feedback, Zurich plans to make it available in additional countries and regions, including North America, the Nordics and further countries in Latin America later this year.
Marine insurance requirements have changed with the expansion of international trade. While globalization gives a growing number of companies the opportunity to ship goods worldwide, it creates more complex supply chains and risk exposures that can impact the ability to deliver goods safely, Zurich explained.
“The Zurich Swift Insurance 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,” said Howard Kingston, Zurich’s global head of Marine.
