Agile launches embedded insurance for inland transit
Inland transit is the latest addition to the growing stable of products at Agile Underwriting Services.
It will be offered to brokers and logistics platforms through Agile’s online trading platform, Powered by Agile.
Ben Webster, Agile co-founder, said the new product follows Agile launching construction insurance last week.
“We’re excited to launch another Lloyd’s binder at Agile and to work with an innovative syndicate that understands embedded insurance and API-first distribution. Embedded insurance is gaining momentum and we have a winning combination with the team, the inland transit product and the platform.”
The product covers physical loss and damage to more than 150 harmonised system codes of goods in transit to a value of $A500,000.
Mr Webster said Agile would leverage its expertise in online distribution to help load boards, freight forwarders and logistics platforms embed the insurance in their daily operations.
“We can offer shippers peace of mind that their goods are covered by Lloyd’s while helping our partners differentiate their platforms by embedding our API. The good news for shippers is they don’t have to rely on the carrier filing a claim,” Mr Webster said. “We want to put insurance on autopilot for customers and partners.”
Brokers can access the Powered by Agile platform to quote and bind products in minutes. The real-time dashboard provides insights into how customers engage with every quote and policy.
In the first half of 2021, Agile has seen a significant increase in the trading platform’s use as it enables brokers to bind lower value policies at scale and speed. There are now 22 niche products available on Powered by Agile.
Get access to Inland Transit today
Contact the Specialty team at email@example.com or call 1300 705 031.