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 & economic sanctions, binding and renewing policies, making mid-term adjustments and issuing certificates.
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. As a result of the very positive feedback, Zurich plans to make it available in additional countries and regions, including North America, the Nordics and further countries in Latin America later this year.
Further information about Zurich Swift Insurance Platform is available on Zurich’s website.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com
Zurich in Singapore
In Singapore, Zurich provides a wide range of insurance offerings for commercial and corporate clients, under its general insurance entity, Zurich Insurance Company Ltd (Singapore Branch). Zurich’s presence in Singapore dates to 2006 and it currently has a specialist team of more than 130 employees on the ground. Zurich is one of the top general insurers in Singapore specializing in complex risks and international insurance programs. Its key lines of business cover Accident & Health, Casualty, Construction / Engineering, Credit & Political Risk, Financial Lines, Global Energy, Marine and Property. Further information about Zurich in Singapore is available at www.zurich.com.sg