Digital Insurtech Breeze Boosts Cargo Protection for XPand Logistics by 150%
Digital insurance innovator Breeze has integrated with global freight forwarding specialist XPand Logistics (XPand), to embed the purchase and distribution of cargo insurance policies directly into the latter’s shipping booking workflow, allowing it to significantly increase the number of shipments it offers cargo protection to.
XPand now makes use of Breeze’s data-driven platform to automate and constantly optimise quote generation, policy binding, and claims processing, reducing the time and effort needed to provide accurate cargo insurance to shipments it processes, and expanding the protection provided to the shippers’ freight.
The collaboration means Breeze has been able to increase the number of shipments XPand offers cargo protection to by over 150 per cent.
“The demand for streamlined and efficient cargo insurance processes has never been more pressing, as the expectation for accurate and easily accessible insurance options grows – especially given ongoing geopolitical tensions that have required our industry to take a closer look at how we are insuring our goods,” said Matthew Phillips, Chief Commercial Officer, Breeze.
“This integration exemplifies the true potential of technology and data to revolutionise traditional sectors, allowing XPand Logistics to protect more cargo, and fundamentally enhance the overall efficiency and inclusiveness of its cargo booking process – which immediately translates to better service to its customers.”
Breeze’s platform embraces a data-driven approach, collecting data from various sources including vessel specifications, navigation patterns, and cargo details, allowing XPand Logistics to identify and cater to the specific needs and risks of its customers with unprecedented precision, resulting in more accurate underwriting and better alignment with each customers’ needs.
“Digitalising our cargo insurance processes not only enhances our operational efficiency, but underscores our commitment to providing comprehensive, customer-driven, and tailored cargo cover to our customers, who can now benefit from a holistic service that also provides protection to their freight against a myriad of risks,” said Nigel Clark, Director, XPand Logistics.
The integration forms part of Breeze’s ambition to use digitalisation to address and counter the outdated, inefficient, and costly methods of purchasing and distributing cargo insurance which are currently relied upon by the traditional insurance industry.
