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Startup Showcase: Anansi Industries is a cutting-edge insurance platform offering embedded goods-in-transit coverage for e-commerce businesses. Founders Megan Bingham-Walker and Ana Martins de Carvalho, who have firsthand experience of the pitfalls of traditional providers, launched Anansi to provide fast, fair, and flexible coverage to merchants and distributors, with a fully automated, paper-free process. In a pre-seed funding round led by Octopus Ventures, the company secured £1.5 million to develop its innovative solution.
The Embedded API: Revolutionizing the Goods-in-Transit Insurance Market
Anansi’s platform offers a unique solution to the cumbersome and often opaque goods-in-transit insurance market, which is valued at $33 billion. With its embedded API, Anansi transforms the customer experience for e-commerce businesses, enabling easy and intuitive signup for insurance, and streamlined claims and payouts with no admin or cumbersome paperwork. This innovative approach puts the power of insurance coverage in the hands of the merchants and distributors, giving them access to comprehensive coverage and fair payouts, all from within their own front-end environments.
The Benefits of Parametrically Triggered Claims and Payouts
One of Anansi’s most notable features is its use of parametrically triggered claims and payouts, which streamline the claims process and enable quick payouts when a parcel is lost or delayed. This process minimizes claims handling, reduces paperwork, and ensures that payouts are triggered automatically when specific parameters are met. This level of automation and precision is unprecedented in the goods-in-transit insurance industry, offering merchants and distributors unprecedented levels of transparency, security, and speed.
A Bright Future for Anansi Industries
With its innovative approach to embedded goods-in-transit insurance, Anansi Industries is poised to revolutionize the e-commerce industry. As the company continues to grow and expand its offerings, it is sure to attract more customers and partners who are eager for an easy, automatic, and efficient way to manage their coverage needs. With its mission to provide fast, fair, and flexible insurance, Anansi Industries is paving the way for a bright future in the e-commerce industry.
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