INTTRA To Offer Cargo Insurance Through World’s Largest Ocean Shipping E-Commerce Network

FP Marine Risks provides insurance program to INTTRA network members

By MarEx 2013-04-09 14:01:00

INTTRA, the world’s largest multi-carrier shipping network for ocean freight, has launched a new member service that enables shippers to purchase cargo insurance from marine insurance specialist, FP Marine Risks, via INTTRA’s e-commerce platform.

Leveraging the buying power of the INTTRA network, 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 purchase cargo insurance into 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.

“Purchasing cargo insurance is a part of the shipment management workflow. Enabling shippers to simplify this process and embed it into their automated ocean freight management workflow is a win-win for shippers,” said Philip Bilney, Group Chief Executive at FP Marine Risks. “Now through the combined strengths of INTTRA in ocean shipping e-commerce and our cargo insurance platform Alto, we can offer INTTRA customers a unique and customized solution at a very competitive rate.”

Small to mid-sized 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. Shippers can further avoid the time consuming process of calling brokers and waiting for quotes and certificates of coverage. The quote, purchase, and issuance of the certificate of insurance are available online and integrated into the shipment management process.

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.

“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. Our relationship with FP Marine Risks enables us to expand the solutions available to our members and offer the option to purchase insurance right through the INTTRA platform. These packaged and integrated offerings allow us to deliver increased efficiency to INTTRA shippers,” said Sandra Moran, Vice President of Industry & Product Marketing at INTTRA. “By leveraging the buying power of the world’s largest ocean shipping network, shippers can reap the benefits of member services all through one solution.”

The products and services herein described in this press release are not endorsed by The Maritime Executive.