Zurich expands reach of marine insurance platform

Zurich Insurance Group (Zurich) is accelerating the broader roll-out of a new marine insurance platform for small and medium cargo, following its successful introduction in selected markets around the world. The Zurich Swift Insurance Platform provides intuitive, web-based access to insurance that users can tailor to their needs.

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.

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 and economic sanctions, binding and renewing policies, making mid-term adjustments, issuing certificates, and submitting first notification of loss (claims).

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.”

The platform was launched in selected markets in 2019, including Singapore, Germany, Mexico and Spain.

Munro Marx, Zurich Singapore’s Head of Marine, said: “Zurich has disrupted the marketplace with the Zurich Swift Insurance Platform, offering a sleek yet simple solution to what is usually made complex by insurers for brokers and intermediaries.”

As a result of the very positive feedback, Zurich plans to make it available in additional countries and regions later this year; followed by an expanded version which opens up the opportunity to manage regional or international insurance programs in the near future.

Download the below brochure for more information about Zurich Swift Insurance Platform.