SureFOX helps in making the buying of goods-in-transit (GIT) and marine cargo insurance cover faster and digitally. The platform was launched after the partnership between EmptyTrips and Nacora Insurance Brokers. However, EmptyTrips is an online trip exchange platform found in Johannesburg. The launch of SureFox was announced on 15th January 2018.
Nacora Insurance Brokers partnered with EmptyTrips to offer the services. The firm also subscribed to the logistics provider Kuehne + Nagel. Kuehne + Nagel are known for their strong knowledge of world logistics. This is according to Benji Coetzee the CEO and founder of EmptyTrips.
EmptyTrips have been operational for 125 years now. The firm is the leading supply chain management and freight forwarder company. Therefore, the partnership will help SureFox Instant Insurance to give good services to the customers. Nacora Insurance Brokers will be responsible for the management of the insurance issues. However, the Nautical Underwriting managers will take charge of underwriting issues.
SureFOX Instant Insurance is able to solve many of the problems experienced by shippers and carriers in South Africa. The challenges include lack of transparency and long tedious process. The processes hence lead to under or over insurance. There are many companies that offer the same type of services but SureFOX stands out. This is because its system uses a matrix of risk inputs to calculate the premium. The shipper can also pay instantly for the cover.
In the past cargo insurance used to be bought manually. However, the firm changes the whole process to digital purchases. The manual process used to be tedious and time-consuming. The transporter must pass through an insurance broker to clear the whole process. SureFOX a transporter is able to finish the whole process within few minutes. The launch ensures that there are strong digital on-demand logistics products. Furthermore, the launch comes after the launch of an online rail freight open exchange (RailFOX).