Denis Opudo
The SureFOX (Insurance Freight Open Exchange) is a unique South Africa startup that won the innovative freight, transport, and exchange award in February 2018.
The system requires simple registration of cargos by online conveyance of cargo registration details with user obtaining insurance certificate via emails. The cargo’s primary details constitute of cargo description, value-packed, and quotation of risk premium.
According to Venturescanner’s report, insurtech possess approximately 1381 companies. These operate in 61 countries and have a net worth of $19.1 billion. Furthermore, 14 new startups are yet for launching but only 6% of these companies participate in the enterprise or commercial sector. Besides, the report emphasized that only a few logistics technologies exist in the continent hence calling attachment between EIT and SureFOX.
The online SureFOX technology can be accessed via www.emptytrips.com covering R8million for a single shipment through roads, sea, or rail. However, cargo movement regulation authority prohibits shipment of cargos in sanction countries.
IET products due for launch later this year include RailFOX and StoreFOX.
SureFOX works closely with Nacora Insurance Brokers, Nagel, and international Freight Forwarder Kuehne. Despite the company humble background, SureFOX is highly esteemed to push Africa in attaining 4th Industrial Revolution agenda. The current company vision is geared towards democratic freight exchange through 360-degree management system of logistics and procurement services.
