Insurtech Platform Evolves Coverage Offerings to Meet Businesses Where They Are Today
TORONTO, April 19, 2022 /PRNewswire/ – Today, fox quilt, a leading North American insurtech focused on providing small businesses with insurance products tailored to their needs, announced the launch of a new e-commerce insurance product. Business owners will be able to get coverage tailored to their specific needs, completely online, on their own time, and at better prices than they are used to.
Foxquilt’s e-commerce product evolves insurance to meet the needs of modern small business owners by providing a simple, fully online solution specifically designed to help new and existing e-commerce business owners quickly access insurance and meet compliance needs. Until now, the average e-commerce business was worried if the sales volumes in the United States were high or if it was a dropshipper selling products from overseas. Foxquilt’s new offering provides reliable coverage regardless of US sales percentage or product provenance. Not to mention the improved accessibility of this product, from $500 annually.
The pandemic has dramatically accelerated the rise of e-commerce as a primary shopping channel, and businesses have evolved to meet this new need. As a result, more and more small businesses and entrepreneurs are turning to e-commerce and online marketplaces to meet customers where they are, changing the landscape of direct-to-consumer buying behaviors. With this change, major e-commerce marketplaces such as Etsy, Shopify, and Amazon now require sellers to carry their own insurance policies.
“Innovative insurance solutions for our small business customers have always been the epitome of what we do at Foxquilt,” said Marc Morissette, CEO and co-founder of Foxquilt. “That’s why we’re proud to introduce this new product offering to ensure e-commerce business owners can purchase insurance online and on-demand while protecting them from exposure where they trade.”
Foxquilt allows small business owners in over 500 quote occupations to instantly purchase and receive their business insurance online. It is more efficient and cost effective than other solutions available on the market. The company is committed to developing technology that empowers small business owners to have more control over their insurance shopping experience, instead of being limited to long wait times, extensive paperwork and to a lack of autonomy. Foxquilt’s commercial insurance products are specifically designed to support the entire online insurance journey of business owners, while providing a tailored and personalized product. The platform is complemented by a unique data underwriting and machine learning infrastructure, which suggests coverages based on the user’s individual profile.
As a North American insurance provider, Foxquilt is looking forward to launching the e-commerce product in the United States later this year. Foxquilt also has premier partnerships and is excited to expand this list with e-commerce marketplaces and online stores to provide premium coverage and a seamless experience. If you would like to learn more about Foxquilt’s eCommerce Insurance product, please visit – www.foxquilt.com/professioncoverage/e-commerce.
Foxquilt is a leading North American insurance technology company focused on providing insurance to small businesses. Foxquilt develops, underwrites and distributes a full range of its own commercial insurance products in United States and Canada. The company uses a combination of data analytics and artificial intelligence to recommend the best insurance coverage and price to meet the individual needs of its small business customers. For more information, visit https://www.foxquilt.com
SOURCE Foxquilt Inc.