The portal-based ocean shipping network INTTRA has launched a new member service that enables shippers to buy cargo insurance from marine insurance specialist FP Marine Risks via INTTRA’s e-commerce platform.
INTTRA members can elect to purchase cargo insurance at competitive rates during the shipping process through Alto, FP Marine Risks’ online insurance platform. Effective immediately, shippers can click a link to request a quote from FP Marine Risks through the INTTRA platform, embedding the ability to acquire cargo insurance within their shipping workflow – automating and streamlining the insurance buying process and eliminating duplicate, error-prone data entry.
Insurance certificates are issued online and serviced by Lloyd’s of London broker FP Marine Risks.
INTTRA said embedding the process also cuts out process of calling brokers and waiting for quotes. Coverage offered through FP Marine Risks is door-to-door and includes protection against “all risks” for the full cargo value – including freight charges. FP Marine Risks offers coverage for all types of cargo, including more than 12,000 codes from the Harmonized Tariff Schedule (HTS codes), shipments to high-risk areas, and options for additional storage coverage before or after arrival at destination.
“Purchasing cargo insurance is a part of the shipment management workflow,” said Philip Bilney, group chief executive at FP Marine Risks. “Enabling shippers to simplify this process and embed it into their automated ocean freight management workflow is a win-win for shippers.”
Small to midsized shippers and freight forwarders will be able to insure cargo more easily with the competitive rates offered through INTTRA, with no requirement for bonding, and premium payments due on a net 30 basis. The quote, purchase, and issuance of the certificate of insurance are available online and integrated into the shipment management process.
“We’re always looking for ways to enhance the INTTRA network and make it an end-to-end solution that drives efficiency for our members,” said Sandra Moran, vice president of industry and product marketing at INTTRA, in a statement. - Eric Johnson