Agile Underwriting (Agile), a Lloyd's coverholder, has rolled out embedded insurance for inland transit a week after launching construction insurance.
Agile's inland transit insurance, the latest addition to the increasing number of offerings at Agile Underwriting Services, covers physical loss and damage to over 150 harmonised system codes of goods in transit to a value of AU$500,000. It will be available to brokers and logistics platforms through Agile's online trading platform, Powered by Agile.
Commenting on the new offering, Agile co-founder Ben Webster said: “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.”
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,” 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, with its real-time dashboard providing insights into how customers engage with every quote and policy.
Aside from the new inland insurance, Agile's new accident & health (A&H) policies, Individual Personal Accident & Sickness and Bill Cover, are also available on Powered by Agile. Launched last month, the A&H products were designed to help Agile's broker partners address their customers' needs while reducing friction costs.
