Anansi Partners with Arch Insurance International
Anansi partners with Arch Insurance International to launch digitised goods-in-transit insurance across the underserved e-commerce industry.
We’re delighted to announce that we have partnered with Arch Insurance International (Arch) to deliver our embedded goods-in-transit insurance product for distribution partners and e-commerce merchants. The partnership sees Arch provide the insurance capacity and act as underwriters for our goods-in-transit embedded insurance platform, providing a digital insurance experience to the underserved e-commerce industry across the UK.
The partnership will improve the goods-in-transit insurance experience across the e-commerce logistics industry, and offers a solution to the inadequate insurance experience provided by couriers
The Anansi platform is part of a wider Insurtech revolution that is transforming traditional insurance products and processes into automated, hassle-free experiences. Only 10% of all goods-in-transit are insured in the UK. Current solutions are renowned for cumbersome onboarding and claims processes, ambiguous pricing, and inadequate courier insurance experiences.
Mind the gap
Embedded insurance changes how insurance is distributed and is proving to be a powerful way to reach new audiences and to bridge protection gaps. With insurance integrating directly into the online customer experience, it becomes a feature of a product or service rather than something that is purchased separately. Historically, resources and money was spent trying to bring the customer to where insurance is sold, embedded insurance reverses that.
Anansi’s embedded insurance platform offers customers comprehensive protection and automates the insurance journey. The entire experience is paperless. From onboarding and policy issuance through to claims and settlements, with payouts that parametrically trigger when a parcel is lost or delayed in transit.
Serving the underserved
This new partnership enables Anansi to serve millions of underserved e-commerce businesses, allowing those who are currently shipping goods without goods-in-transit insurance to better protect both their own businesses and the experience of their customers. Shipping tracking data and parametric claims trigger the filing of claims for lost and delayed goods. This ‘touchless’ experience removes the courier from the claims experience entirely. E-commerce businesses can expedite replacements for lost goods, reduce customer service complaints and provide exceptional customer experiences beyond the checkout.
Commenting on the partnership, Megan Bingham-Walker, Co-Founder & CEO of Anansi, said:
“We are pleased to be partnering with Arch, and see this as the first step in our commitment to provide e-commerce businesses with a fair and flexible digital goods-in-transit insurance solution. For too long, the insurance industry has been plagued with antiquated methods. Only by digitising and automating the entire process will we be able to offer adequate protection for the millions of uninsured and underinsured goods that transit each year.”
Steve O’Gorman, Head of Cargo and Logistics at Arch Insurance International adds:
“We are delighted to partner with Anansi to provide an effective goods-in-transit insurance solution to increase the speed and ease of parcel insurance purchase for e-commerce merchants. The parametric claims process also provides clients with reassurance that claims will be paid fairly and promptly”.
