Foxquilt Launches eCommerce Insurance Product
Today, FoxquiltAn American insurtech leader focused on providing small businesses with tailored insurance products that are uniquely matched to their requirements, announcing the launch of an eCommerce insurance product. Online, business owners can now get coverage that is tailored to their needs at a lower price and in a more convenient way than ever before. Foxquilt’s eCommerce product is evolving insurance to meet the needs of the modern small business owner by providing an easy, all-online solution specifically designed to help new and existing e-commerce business owners quickly access insurance and fulfill compliance needs. Until now, eCommerce businesses were often met with trepidation if their US sales were large or if they were drop shippers who shipped products from abroad. Foxquilt’s new offering provides reliable coverage no matter the percent of US sales or where the products come from. This product is also more affordable, starting at $500 annually. The rise of eCommerce has been accelerated by the pandemic. Businesses have evolved to meet this need. Online marketplaces and eCommerce are becoming more popular among entrepreneurs and small businesses. This is changing the landscape of direct-to-consumer purchasing behavior. This shift has led to large eCommerce marketplaces like Amazon, Shopify, Etsy and Shopify requiring sellers to buy their own insurance policies. “Innovating insurance solutions for our small business customers has always been the epitome of our business at Foxquilt,” Mark MorissetteFoxquilt’s CEO and Cofounder. “That’s why we’re proud to introduce this new product offering to ensure that eCommerce business owners can secure insurance online and on-demand while protecting them from exposures where they trade.” Foxquilt allows small business owners from over 500 professions to instantly get their insurance online. It is faster and more cost-effective than any other available solutions. The company is dedicated to creating technology that empowers small-business owners. This allows them to have greater control over their insurance buying experience and not be limited to lengthy wait times, tedious paperwork, or a lack thereof. Foxquilt’s business insurance products are specifically built to support business owners’ entire insurance journey online, while providing a tailored, customized product. The platform is complemented by unique data and machine learning underwriting infrastructure, that suggests coverages based on a user’s individual profile. Foxquilt, a North American insurer, is excited to launch the eCommerce product in the US this year. Foxquilt has a number of leading partnerships and is looking forward to expanding this list with online marketplaces and eCommerce stores to offer top-quality coverage as well as a seamless experience.