Aviva’s Global, Corporate and Specialty (GCS) division has launched an upgraded version of its freight liability insurance product.
Available through the Acturis E-Trade and Fast Trade platforms, the revised offering introduces new features, including increased cover limits, a wider range of conditions of carriage, and a new lower-cost option.
According to Aviva, the updates form part of its broader digital transformation initiative within the marine team, aimed at streamlining and updating freight insurance delivery through digital trading channels.
One of the key updates includes higher per-tonne and per-vehicle cover limits, with customisable options linked to turnover and the applicable conditions of carriage. The policy now also supports an expanded list of recognised conditions of carriage, including those issued by Logistics UK and the British International Freight Association (BIFA).
In addition, the product introduces a lower-cost ‘economy’ cover, aimed at clients not dealing with theft attractive goods. This option is positioned as a more cost-efficient alternative for lower-risk operations.
Errors and omissions cover has also been integrated into the online offering, allowing users to add it without requiring underwriter referral.
The Fast Trade system, which started with just two specialists in 2009, now comprises a team of approximately 175 digital underwriters. The platform supports 17 different insurance products across personal, commercial and specialty lines in the UK broker market.
Aviva’s expansion of its freight liability product coincides with further investment in its Digital team. The firm has recently hired three new marine underwriters, bringing its national marine underwriting team to more than double its 2017 headcount.
According to Aviva’s recent Broker Barometer survey, 85% of brokers reported an interest in increasing the use of digital and automated processes. The findings point to growing demand for streamlined underwriting and transaction tools.
Chris Green (pictured above), UK marine manager at Aviva, said that while marine insurance has long-established roots, the industry must evolve to meet changing expectations.
“For years, brokers have asked for a digital Freight Liability solution that goes beyond the traditional 5–10 vehicle model. At Aviva, we’ve listened, and we’re committed to modernising how we trade and support our brokers and clients,” he said.
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