Chubb innovates in marine insurance

A global insurance company has innovated its insurance offering for the marine transport community. Chubb now offers instant shipment insurance on the networked trade platform (NTP) via its value-added service (VAS) listing, to instantly insure a wide range of goods including commercial containerised cargo, household goods, parcel freight, and specialty items, like works of art. The instant shipment insurance technology, currently available in Australia, Korea, and Singapore, was developed to be promptly and easily deployed on other platforms, allowing transport operators to offer automated shipment insurance to their clients on their proprietary platforms. This makes the process for obtaining insurance quotation and bind cover seamless, quick, and available 24/7 for traders, logistics service providers, carriers, and insurance intermediaries.