AXA Insurance today announced that it will be the first insurer in Singapore to join the Networked Trade Platform (NTP) as a Value-Added Service (VAS) provider for marine cargo insurance. Officially launched by the Singapore Customs on 26 September 2018, AXA’s intermediaries (agents, brokers) and customers can now utilise the next-generation trade information management platform for all their marine cargo insurance needs.
AXA’s marine cargo insurance provides protection for risk of loss or damage of goods in transit by sea, air (including courier) and land. By integrating its Insurance-as-a-Service platform and API with the NTP, AXA is streamlining the marine cargo insurance purchasing and issuance processes into one centralised digital platform, instead of multiple online and offline touch points.
The end-to-end platform will enable AXA’s intermediaries and customers to transmit data from their documents hosted on the NTP to AXA directly, eliminating paperwork and time-consuming manual processes that are traditionally required. The digitalisation of the entire process – from getting an automated quotation up to instant purchase of insurance and instant issuance of certificate of insurance and policy documents – including exchange of data and documents, will deliver greater convenience for AXA’s customers and increase operational efficiency for AXA and its intermediaries.
“AXA is excited to join the NTP as a VAS provider. With this new initiative, we are leveraging our digital capabilities and platforms to not only transform our business operations but to also, importantly, better support our customers and partners by simplifying the overall experience. This reaffirms AXA’s commitment to contribute towards the advancement of Singapore’s digital economy,” said Ronnie Tong, Managing Director, Commercial Lines & Health, AXA Insurance.
AXA’s existing marine cargo insurance intermediaries and customers will be the first to benefit from the integration of AXA’s services with their trade processes on the NTP. New intermediaries and customers will subsequently be onboarded by AXA.
ABOUT AXA INSURANCE
AXA Insurance is part of the AXA group, a worldwide leader in insurance and asset management, and the world’s leading insurance brand for the ninth consecutive year, with 160,000 employees serving 105 million clients in 62 countries. Present in Singapore since 1969, AXA Insurance has been serving the general and life insurance needs of individuals and companies in Singapore through a wide range of innovative products. As one of the top global insurers in Singapore, AXA Insurance protects more than a third of a million customers in Singapore. As a company whose business is about protecting people, AXA Insurance is committed to building a stronger and safer society by empowering customers to live better lives.
For more information, please visit www.axa.com.sg.
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