Zurich expands marine automation platform to NA, Nordics and LatAm
Zurich Insurance Group is expanding its new marine insurance platform for small and medium cargo to a wider market, including countries and regions in North America, the Nordics and Latin America.
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 move follows its successful introduction in selected markets, including Spain, Germany, Singapore and Mexico, in 2019. Zurich said the platform has received "very positive" feedback from these markets.
The company now plans to accelerate the broader roll-out in additional countries and regions, including North America, the Nordics and further countries in Latin America later this year.
The insurer noted that 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."
Howard Kingston, Zurich’s global head of marine, said: “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.”
