AXA XL’s U.S. marine insurance business and Vindati, an insurtech managing general underwriter (MGU) offering specialty products and an integrated shopping experience for brokers and agents, have partnered to offer ocean cargo insurance for small and middle-sized businesses via Vindati’s online platform.
According to Andrew D’Alessio, head of Ocean Cargo for AXA XL’s US Marine insurance team, the insurer is extending the availability of its cargo coverage to a broader business base through the partnership. It is focusing on U.S. cargo risks with an international exposure of $25 million and less offering cargo coverage and inland transit and warehouse coverage as well.
AXA XL Insurance offers marine cargo insurance to protect cargoes at sea, in the air, on land, and in storage. 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 clients with special coverage needs for their marine exposures, including Inland marine, ocean cargo, blue and brown water hull, P&I, as well as excess and primary marine liabilities.
Vindati is an MGA offering specialty products for small to mid-sized businesses and an integrated shopping experience. Its first products are contractors equipment, builder’s risk, and farm/ranchowners packages; long-term plans include expansion to a range of business products, including commercial articles, motor truck cargo, and warehouse legal. It is backed by Innovisk Capital Partners and led by Hugh Burgess.
AXA XL provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance products to insurance companies globally.
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