After successfully launching in selected markets around the world, Zurich Insurance Group has now revealed plans for a broader roll-out of its marine insurance platform.
Known as the Zurich Swift Insurance Platform, its focus is on providing web-based access to insurance within the small and medium cargo field.
In a release announcing the move, Zurich noted that marine insurance requirements have changed rapidly amid an expansion of international trade and increased complexity among the supply chain due to globalisation. All of this has led to increased risk exposures.
“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, global head of marine at Zurich.
“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.”
The platform relies on automation technologies to help brokers manage the policy lifecycle of annual cargo insurance policies and those for single shipments.