Insurers Ascot and Beazley have partnered on the Lloyd’s launch of a cargo consortium, using insurtech solutions to manage risk and claims. The A2B consortium has a capacity of $50m and will bring together various carriers to provide coverage for SME cargo businesses. “Insurance is an important part of our business model but we are also looking at new ways in which it can be used by companies like ours that want to offer their customers more value than they The consortium is likely to strengthen Lloyd’s position in the global cargo market.
Insurers Ascot and Beazley have partnered on the Lloyd’s launch of a cargo consortium, using insurtech solutions to manage risk and claims. The A2B consortium has a capacity of $50m and will bring together various carriers to provide coverage for SME cargo businesses. Those insured will have the option of monitoring cargo data through devices developed by insurtech Parsyl. The consortium is likely to strengthen Lloyd’s position in the global cargo market.