Axa XL partners with insurtech MGU on cargo insurance
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Axa XL, a unit of Axa SA, said Wednesday its U.S. marine insurance business has teamed up with insurtech specialty managing general underwriter Vindati, part of Innovisk Capital Partners LLP, to offer ocean cargo insurance for small and midsize businesses.
The partnership will focus on U.S. cargo risks with an international exposure of $25 million or less, allowing businesses to buy Axa XL cargo coverage, including inland transit and warehouse coverage via Vindati’s online platform, Axa XL said in a statement.
The platform extends Axa XL’s cargo coverage to a broader business base and gives its brokers access to instant, customizable quotes to address businesses’ cargo insurance needs, the insurer said in the statement.
Combining VIndati’s automated quote to issuance with Axa XL’s first notice of loss claims reporting website and handling process will enable faster payment of claims, the statement said.
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