AXA XL’s US marine business has partnered with Vindati, an insurtech managing general underwriter, to offer ocean cargo insurance for small and medium-sized businesses through Vindati’s proprietary online platform.
“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 million 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.”
The platform was built to address a need for solutions aimed at brokers who are serving small to medium-sized businesses, and gives them the ability to administrate higher volumes of policies cost-effectively and efficiently, according to Hugh Burgess, founder and CEO of Vindati.
Burgess added, “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.”
“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,” said Conor Murray, AXA XL head of global specialty claims for North America.