AXA XL partners with insurtech MGU Vindati on Ocean Cargo insurance for SMEs

Insurer AXA XL has partnered with insurtech managing general underwriter (MGU) Vindati to offer Ocean Cargo insurance for small and middle-sized businesses in the US.

The deal will enable the insurer to use Vindati's proprietary rate, quote, bind, issue online platform.

In addition to AXA XL Ocean Cargo coverage, Vindati also offers contractors equipment, builder’s risk, and farm/ranchowners packages, and has plans to expand its product offering to include motor truck cargo, warehouse legal and other business coverages.

AXA XL’s global marine business provides insurance for inland marine, ocean cargo, blue and brown water hull, P&I, as well as excess and primary marine liabilities.

“With this partnership, we’re extending availability of our cargo coverage to a broader business base,” said Andrew D’Alessio, head of Ocean Cargo for AXA XL’s US Marine insurance team. “Vindati’s online platform expands our distribution to Vindati’s relationships and gives our brokers, easy access to instant, customizable quotes to address their clients’ cargo insurance needs."

"Focusing on US cargo risks with an international exposure of $25,000,000 and less, businesses can now easily buy AXA XL cargo coverage and include inland transit and warehouse coverage as well. With this partnership we have an attractive solution for a segment of the market that we ordinarily do not serve,” D’Alessio added.

Vindati founder and CEO Hugh Burgess said: “Our platform was built to address a clear need for solutions aimed at brokers who are serving small to medium sized businesses, giving them the ability to administrate higher volumes of policies cost effectively and efficiently. Not only does Vindati offer brokers speed and easy access, it provides insurance carriers, like the AXA XL companies, greater efficiency to deliver their coverages to a wide range of businesses for a variety of coverages.”

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